Anti-Financial Crime & Financial Crime Compliance
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NEWS: Dubai’s Financial Services Authority (DFSA) signs MoU with the UAE’s FIU.

CO-OPEARTION: The new MoU was signed by Ian Johnston, chief executive of Dubai's FSA and Ali Faisal Ba’Alawi, chief of the UAE's Financial Intelligence Unit.

DUBAI’s Financial Services Authority (DFSA) has signed a Memorandum of Understanding (MoU) with the UAE’s Financial Intelligence Unit (FIU) to advance AML/CFT coordination and cooperation.

The MoU was signed by the DFSA’s ceo Ian Johnston and the FIU’s chief Ali Faisal Ba’Alawi last week (August 3).

The agreement aims to enhance co-operation, co-ordination, and information sharing between the DFSA and FIU to fulfill their respective obligations related to AML/CFT compliance. This includes ensuring that applicable laws are followed by relevant entities.

“It is crucial to work closely with authorities at a local, regional and global level in our interconnected environment, to exchange information and combine resources to combat financial crime,” said Johnston.

” We look forward to continuing to work with the FIU, as this MOU establishes a structured foundation for cooperation on matters related to AML and CFT.”

The FIU’s Ali Faisal Ba’Alawi said “the MoU signing formalises the sharing of knowledge, experience, and expertise regarding the prevention of financial crime. Such cooperation is essential in order to protect and promote the integrity, stability and efficiency of the supervised entities and financial system.”

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