UAE's advanced digital tools empower anti-money laundering efforts: Hamid Al Zaabi

Dubai [UAE], February 15: Hamid Al Zaabi, Director-General of the Executive Office for Anti-Money Laundering and Counter Terrorism Financing (AML/CFT), affirmed that the World Governments Summit (WGS) has ushered in a new decade of positive impact, inspiring governments and societies to join the global community in its ongoing journey to shape the future.
In statements to the Emirates News Agency (WAM) on the sidelines of the closing day of the WGS, Al Zaabi stressed that digital transformation has become a reality and that its threats affect the economic and social security of countries.
By utilising the country's advanced digital infrastructure, he said, the Executive Office for Anti-Money Laundering and Counter Terrorism Financing has built a powerful intelligent system, significantly enhancing the fight against financial crimes and protecting the nation's economic security.
He added that the Executive Office, in cooperation with various partners, is working on developing legislations that support the country's digital economy, including the regulation of virtual assets to reduce their risks, in accordance with the best international practices.
Source: Emirates News Agency