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COMEX Global Technology Show 2024 Kicks off

HM The Sultan Arrives in Kuwait

Kuwaiti diplomat: Omani Sultan’s Kuwait visit indicative of strong ties

UAE President holds dinner banquet at Qasr Al Watan in honour of Sultan Haitham bin Tariq

UAE President receives Sultan of Oman upon arrival in UAE on state visit

Oman and UAE: Fraternal Bonds, Strategic Relations and Economic Partnership

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Bank Muscat Launches EAGLEs Programme: A Pioneering Leadership Engagement Across Branch Network

“Forging Tomorrow: A Global Imperative for Advanced AI Infrastructure”

“High-Paying Careers in Artificial Intelligence: Securing Your Future in the Evolving Job Market”

HM The Sultan Issues Two Royal Decrees

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Royal Army of Oman Celebrates Passing Out of Officer Cadets, University Officers

HM The Sultan Offers Condolences on the Death of Kuwaiti Emir

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HH Sayyid Theyazin Conveys HM The Sultan’s Greetings to Russian President

First Muscat Dialogue Sessions Begin

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Empowering Coastal Women in Oman: “Mina” Project Unveiled

Information Minister Affirms Keenness to Strengthen Communication with International Media Institutions

“Oman’s Education and Innovation Drive: Sultan Haitham’s Vision”

UAE Space Agency launches National Space Academy to develop national cadres

HM The Sultan Presides over 8th Term Convening of Council of Oman

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HM The Sultan Issues 2 Royal Decrees

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Omanis Cast Ballots for Shura Council’s 10th Term Membership

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Omantel’s 5G Excellence Recognized with “Samena Communications Award”

NHS scientist awarded £58,000 after being named ‘Paininarse’ on spreadsheet

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HM The Sultan Receives Ambassadors’ Credentials

“Empowering Omani Women: A Message of Hope and Progress”

Mohammed bin Rashid opens GITEX GLOBAL

HH Sayyid Bilarab Chairs Meeting of Omani Startups’ Supervisory Committee

“Dhi Yazan bin Haitham Al Said Inaugurates Duqm Economic Forum “

Omani Woman: Clear Vision & Remarkable Achievements

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MAWARED annual book

Transformational Leadership: Inspiring Change and Achieving Excellence

“al sulaam Program (Episode four) with Dr. Aamal al bussaidi .”

“al sullam Program (Episode Two) with Dr. Ahmed Al-Ghusani.”

Nama Group and Omani Society for Human Resource Management (OSHRM) announce strategic partnership in Human Resources development

Saudi Oil Giant Aramco Announces $121 Billion Profit in 2023

Tender Board Signs Agreements with Karwa Motors on Government Procurement, School Bus Purchase

Najahi Business Banking from Bank Muscat: Empowering Small Businesses

His Majesty Exchanges Ramadan Greetings With Arab, Islamic Leaders

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QCB Launches ‘FAWRAN’ Instant Payment Service

National Development Fund Partners with World Economic Forum

Qatar Chairs 49th Meeting of GCC Standing Committee for Combating Harmful Practices in International Trade

Saudi Arabia’s Air Connectivity Program Signs Deal with Eurowings to Enhance Air Connectivity between Saudi Arabia and the EU

HM King presented unique development model: Omani Ambassador

July 14, 2024

UAE AML/CFT Partnership Forum Digital Work Group publishes white paper on technologies in anti-financial crime

ABU DHABI, 3rd April, 2024 (WAM) — Hamid AlZaabi, Director-General of the Executive Office of Anti-Money Laundering and Counter Terrorism Financing (EO AML/CTF), was presented with the first copy of the white paper “Current views on technologies in anti-financial crime” during the EO AML/CTF Ramadan event, published by the UAE AML/CFT Partnership Forum’s Digital Working Group.

On receiving the paper, AlZaabi stated, “Partnership between the public and private sectors is one of our most important strategic priorities for the UAE, and the EO AML/CTF pays special attention to the projects of the AML/CFT Partnership Forum (ACPF) due to its pivotal role in enhancing dialogue with the private sector.

The issuance of this paper is a valuable example of the fruitful results deriving from the partnership between public and private sectors and the exchange of experstise between them to idenitfy and combat threats and money laundering and terrorism financing more effectively.”

Mohamed Shalo, Chair of the ACPF and Director of Communication and Strategic Partnerships at the EO AML/CTF, commented, “The Digital Working Group demonstrates that both public and private sector institutions in the UAE are committed to combating financial crime and are striving to harness the power of the right technologies. By leading by example, they demonstrate that organisations that embrace innovative technologies and work collaboratively are more than able to meet the challenges posed by tech-driven financial crime.”

He added, “I would like to thank the members of the Digital Working Group and all who have contributed to this paper. As a strong believer in role of strategic communication and open dialogue, I can attest to the power of collaboration and the sharing of expertise with greater transperancy. I commend this paper to experts from all sectors, including the academic community; its contents and recommendations will be of real value to those at the front line of the fight against financial crime.”

Nishanth Nottath, Chair of the ACPF Digital Working Group and Executive Vice President, Head of AML, ABC & Reg Tech at Mashreq Bank, said, “The document offers a high-level overview of the latest technologies that have demonstrated the potential to significantly improve anti-financial crime capabilities. The white paper will be of real interest to a wide variety of stakeholders covering financial institutions, technology providers, compliance/AML/regulatory technology professionals and anyone more generally interested in anti-financial crime affairs.”

Over 40 contributers from the public and private sectors participated in the writing of the white paper. The white paper covers various aspects of technology implementation over five chapters: Know Your Customer (KYC); Customer Due Diligence (CDD); and onboarding to Transaction Monitoring and Surveillance; Screening, Model Risk Management/Data; and the transformative influence of Large Language Models (LLMs).

The ACPF is the UAE public-private partnership initiative for financial crime. It was founded in 2021 to detect and disrupt criminal activities and reduce any harm to the integrity of the UAE’s financial system through information and intelligence sharing between government agencies and the private sector.

The ACPF secretariat is provided by the EO AML/CTF, and the Forum currently has 51 members.

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