The plenary addressed the wide range of ongoing efforts in the region to combat money laundering and terrorist financing, specifically about implementing the Financial Action Task Force’s 40 Recommendations and 11 Immediate Outcomes. The UAE attended the 33rd Middle East and North Africa Financial Action Task Force (MENAFATF) Plenary Meeting, held on 16th-17th November 2021, in Cairo, as well as the ongoing MENAFATF Working Group sessions leading up to the plenary. It aimed to unify efforts in this regard and formulate a comprehensive strategy to combat money laundering and terrorist financing in line with all relevant international standards, laws, and conventions. They expressed great benefit from external partners’ experiences, especially with regards to combating trade-based money laundering, strengthening investigations through advanced techniques for data analysis, and combating arms proliferation. Now, the 33rd Plenary offered a welcome opportunity to update MENAFATF on the further progress the UAE is making.

Source: The North Africa Journal November 23, 2021 10:02 UTC