Recognising swift efforts taken by the UAE to fight money laundering, the global Financial Action Task Force (FATF), has assured that the UAE will not be classified in the list of Non-Cooperative Countries and Territories (NCCT) report.
The UAE's National Committee for Anti-Money Laundering which attended the FATF meeting in Hong Kong last week was told that the UAE is not liable to classification, the Central Bank said yesterday.
The UAE is in a very good position which enables it to be cooperative in the internationally declared fight against money laundering, said the FATF.
The UAE was never in the list and now, that it has fulfiled the 25 criteria of the FATF, it is not even liable for classification in the list, a senior Central Bank official told Gulf News.
"The National Anti-Money Laundering Committee, on January 10, responded to the FATF report regarding the evaluation of the UAE against the criterion used to determine countries and territories that are not cooperative and the mutual evaluation report, and declared that deficiencies in the anti-money laundering systems in the UAE have been eliminated," the Central Bank said.
Task force recognises UAE's anti-money laundering efforts
Recognising swift efforts taken by the UAE to fight money laundering, the global Financial Action Task Force (FATF), has assured that the UAE will not be classified in the list of Non-Cooperative Countries and Territories (NCCT) report.
