MoCD organises workshops on international standards for countering money laundering, terrorist financing

DUBAI, The Ministry of Community Development (MoCD) has organised remote workshops targeting regulatory authorities responsible for overseeing and monitoring non-profit associations in Dubai, as part of its efforts to highlight international standards for money laundering, terrorist financing and weapons proliferation issued by the Financial Action Task Force (FATF).

The workshops were attended by 18 specialists representing three regulatory authorities, which are the Community Development Authority, the Islamic Affairs and Charitable Activities Department and the International Humanitarian City.

The workshops highlighted the competence of regulatory authorities based on supervisory and monitoring legislations covering the non-profit associations’ sector, in line with Decree-Law No. 20 of 2018 on countering money laundering crimes, combatting the financing of terrorism and illegal organisations. They also discussed the obligations of non-profit associations and reviewed the mechanisms and evaluation systems adopted by the MoCD.

Nasser Ismail, Assistant Under-Secretary of Social Welfare and Member of the National Committee for Combatting Money Laundering, said, "The workshops are part of a series of awareness and training programmes organised by the ministry to increase and enhance awareness among the regulatory authorities responsible for supervising and monitoring the non-profit associations’ sector, through laws, measures and regulations covering the methods of combatting money laundering, terrorist financing and illegal organisations in the UAE, to reduce the abuse of this sector in terms of supporting and financing terrorism and speeding up social work in the UAE."

He also stressed the need for all regulatory authorities to achieve the objectives and competencies assigned to them under the enforced legislation, especially risk assessment and activate supervision and monitoring, to increase the efficiency of mutual assessments in the UAE.

Source: Emirates News Agency