Latest news with #FATF-style
Al Etihad
5 days ago
- Business
- Al Etihad
UAE participates in Eurasian Group's Plenary Meeting on Anti-Money Laundering
2 June 2025 20:34 MOSCOW (WAM) The United Arab Emirates participated in the 42nd Plenary Meeting of the Eurasian Group on Combating Money Laundering (EAG) and its accompanying forum, which was co-organised by the Eurasian Group and the Middle East and North Africa Financial Action Task Force (MENAFATF) in Moscow, joint forum on regulation and risks marked the first-ever event to bring together two regional FATF-style bodies, reflecting the growing strategic partnership and international cooperation in addressing global risks associated with money laundering and terrorist financing. The forum focused on the theme 'Risk Management in the Era of Modern Technology,' with participation from over 200 high-level representatives from anti-money laundering and counter-terrorist financing authorities, regulatory bodies, financial intelligence units, the private sector, international organisations, and UAE delegation was led by Hamid Al Zaabi, Secretary-General and Vice Chairman of the UAE's National Anti-Money Laundering and Counter-Terrorist Financing and Financing of Illegal Organisations Committee, and Vice President of MENAFATF. He also participated in the main panel discussion titled 'Future Trends – Global Challenges and Digital Threats.'The UAE delegation, also attending as an observer to the Eurasian Group, showcased the latest developments in the country's efforts to combat money laundering and terrorist financing, including national initiatives leveraging artificial intelligence and digital innovation to strengthen the UAE's capabilities in tackling financial part of the visit, the UAE Embassy in Moscow hosted a 'Youth Circle' session, where Al Zaabi delivered an awareness presentation to Emirati youth and scholarship students. The session focused on sharing knowledge about the UAE's anti-money laundering and counter-terrorist financing framework while highlighting promising career opportunities in this vital sector, which is closely tied to financial system integrity and national security. The forum provided a high-level platform for dialogue on evolving regulatory approaches, public-private partnership strategies, and regulatory responses to technological change. It also contributed to enhancing cooperation between the Eurasian Middle East and North Africa regions in combating money laundering and terrorist financing.
New Indian Express
23-05-2025
- Business
- New Indian Express
Why India is pushing for Pakistan's return to FATF grey list
NEW DELHI: India is intensifying its diplomatic efforts to push for Pakistan's re-inclusion in the Financial Action Task Force's (FATF) grey list during the upcoming plenary session in June. This move follows a recent terror attack in Pahalgam, Jammu & Kashmir, which New Delhi sees as part of a continued pattern of cross-border terrorism backed by elements in Pakistan. Indian officials argue that despite being removed from the grey list in 2022, Pakistan has failed to take credible and irreversible action against terror groups operating from its territory. New Delhi has already begun consultations with key international partners to build support for its case, with sources confirming that India will also oppose fresh World Bank funding to Islamabad, citing concerns over its counter-terrorism track record. What is FATF? The Financial Action Task Force is an intergovernmental body founded in 1989 by the G7 to combat money laundering, terrorist financing, and the financing of weapons of mass destruction. Headquartered in Paris, FATF sets global standards and evaluates countries on their compliance with anti-money laundering (AML) and countering the financing of terrorism (CFT) measures. The organisation currently has 39 members, including 37 countries and two regional organisations — the European Commission and the Gulf Cooperation Council. India joined as an observer in 2006 and became a full member in 2010. It also participates in regional FATF-style bodies like the Asia Pacific Group (APG) and the Eurasian Group (EAG).
