UAE to host APG meet on money laundering

The APG is the largest FATF-Style Regional Body (FSRB) and its Annual Meeting is set to host a gathering of over 400 distinguished officials and experts…reports Asian Lite News

The UAE Executive Office of Anti-Money Laundering and Counter Terrorism Financing (EO AMLCTF) and Asia Pacific Group on Money Laundering (APG) announce that the UAE will host for the first time the 2024 APG Annual Meeting and Technical Assistance and Training Forum, taking place in the Emirate of Abu Dhabi Emirate at the Emirates Palace between 22nd-27th September 2024.

The APG is the largest FATF-Style Regional Body (FSRB) and its Annual Meeting is set to host a gathering of over 400 distinguished officials and experts to address critical global concerns surrounding the crimes and risks associated with money laundering and terrorism financing.

Commenting on the announcement of the hosting, Hamid Al Zaabi, Director-General of the EO AMLCTF, remarked that the UAE looks forward to extending a warm welcome to participants. He added, “The UAE has established itself as a global forum for international events and hosting the annual meeting of Asia-Pacific Group is a testament to our country’s continuous commitment and strategy for fostering constructive communication with international partners. The hosting of this important meeting also enhances the approach taken by the UAE for international cooperation and coordination to mitigate the risks associated with money laundering and terrorism financing crimes. The EO AMLCTF, in cooperation with all our esteemed partners, continues to strengthen the UAE’s national AML/CFT system. We look forward to hosting all the national delegations in Abu Dhabi this September”.

APG Co-Chairs Deputy Commissioner Ian McCartney and Assistant Deputy Minister Julien Brazeau jointly said, “The APG Annual Meeting is an important occasion for members and observers to discuss strategic issues, and we look forward to the 2024 meeting being hosted by the UAE as one of our newest observer jurisdictions. We welcome the opportunity to meet our delegates in person to discuss and adopt important mutual evaluation reports, achieve other key business outcomes, and to conduct the technical assistance and training forum in parallel to discuss members’ priority technical assistance needs with donors.”

The agenda for the annual meeting will commence with a number of APG committee meetings and working groups from 22nd-23rd September, followed by a four-day plenary from 24th-27th September co-chaired by Australia and Canada.

Mutual evaluation reports for the Marshall Islands, Nauru, Papua New Guinea, Timor-Leste, and the joint FATF/APG/EAG mutual evaluation report of India will be reviewed and considered for adoption during the week. The APG will also take governance and organisational decisions on the future of the group and review significant projects taking place in 2024 and beyond.

The agenda also includes reviews of the FATF’s strategic direction for the next round of evaluations, with a focus on understanding its implications for the business of the APG. Alongside the four-day plenary meeting, APG members will conduct technical assistance coordination for many APG member jurisdictions aiming to enhance their AML/CFT systems.

The APG consists of 42 member jurisdictions in the Asia-Pacific region, eight observer jurisdictions and 33 observer organisations. Notable among the observer organisations are the International Monetary Fund, World Bank, OECD, United Nations Office on Drugs and Crime, the UN’s Counter Terrorism Executive Directorate, Asian Development Bank, Commonwealth Secretariat, INTERPOL and the Egmont Group.

In 2023, the UAE was granted official observer status at the APG and an Emirati delegation led by Al Zaabi participated in the 2023 Annual Meeting held in Vancouver, Canada.

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