General Secretariat is established as new executive body to combat money laundering

The General Secretariat will support the work of National Anti-Money Laundering and Combatting Financing of Terrorism and Financing of Illegal Organizations Committee (NAMLCFTC).

The new executive body is assigned with the following tasks:

- manage the implementation of policies aimed at combating money laundering, the financing of terrorism and the proliferation of weapons of mass destruction;
- address strategic and technical challenges, including monitoring financial threats;
- maintain the integrity of the financial system;
- strengthen the UAE's strategic partnerships with international partners.

The General Secretariat is established pursuant to Federal Decree-Law No. 7 of 2024 Amending Certain Provisions of Federal Decree-Law No. 20 of 2018 on Combating Money Laundering Crimes and Combating the Financing of Terrorism and the Financing of Illegal Organizations.

UAE - 13 December 2024
Original article: WAM