Kazakhstan and UAE Strengthen Cooperation in Combating Financial Crimes

A delegation from the Executive Office for Anti-Money Laundering and Counter-Terrorist Financing (EO AML/CTF) of the United Arab Emirates (UAE) visited the capital of Kazakhstan to sign a Memorandum of Understanding (MoU) with the Agency for Financial Monitoring (FMA) of the Republic of Kazakhstan. The MoU is aimed at strengthening cooperation in combating financial crimes.

The MoU provides for cooperation in four key areas:

Virtual assets: The parties will exchange information and best practices on the regulation and supervision of virtual assets, as well as on the investigation and prosecution of crimes related to virtual assets.

Public-private partnerships: The parties will cooperate in developing mechanisms for exchanging information and cooperation between the public and private sectors to prevent and combat financial crimes.

Education and capacity building: The parties will cooperate in organizing training and educational events for professionals in the field of anti-money laundering and countering the financing of terrorism (AML/CFT).

Asset recovery: The parties will cooperate in the recovery of assets obtained as a result of financial crimes.

The Memorandum of Understanding is a significant step towards strengthening cooperation between the UAE Executive Office and the FMA in terms of strengthening bilateral cooperation in combating financial crimes with a transnational character.

For reference: The UAE Executive Office for Anti-Money Laundering and Counter-Terrorist Financing was established in 2021 to oversee the implementation of the UAE's National Anti-Money Laundering and Counter-Terrorist Financing Strategy and Action Plan.