UAE becomes the first Arab country to become supervisor of the Asian-Pacific Money Laundering Group
The UAE has participated in the full session of the Asia-Pacific Group (APG) on the Regional Body (FSRB) money laundering of the Financial Action Task Force held from 9 to 14 July in Vancouver, Canada.
The UAE is the first Arab country to be given a supervisor status in APG. The UAE has put its strategy and plans at the center to combat money laundering and terrorism financing.
The UAE delegation is headed by Hamid Al Zabi in this session, who is the Director General of the Executive Office of Anti-Money Laundering and Counter-Terrorism Financing (EO AML/CTF).
In FSRB programs, supervisor status is given to countries that display an active and collaborative approach to fighting financial crime.
In this session, major international organizations like the International Monetary Fund, World Bank, OECD, United Nations Office on Drugs and Crime, United Nations Executive Directorate, Asian Development Bank, Commonwealth Secretariat, Interpol, and Egent Group of Financial Intelligence Units also participate. Are.
Asia-Pacific Group (APG) on Money Laundering (APG)
Established in 1997, APG is an inter-governmental anti-mani laundering body and is part of the global network of similar bodies known as the financial action task force-style regional bodies. It has 41 members.
India joined the list of FATF 'Supervisor' countries in the year 2006 and became a full member of FATF in 2010. The Secretariat of FATF is located in Paris at the Economic Cooperation and Development Organization (OECD) headquarters.
