DFSA and UAE’s Financial Intelligence Unit sign MoU to strengthen collaborative action against financial crime

The Dubai Financial Services Authority (DFSA) has signed a Memorandum of Understanding (MoU) with the Financial Intelligence Unit (FIU) of the UAE to advance coordination and cooperation on Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) and illegal organisations.
The MoU was signed by Ian Johnston, Chief Executive of the DFSA and Ali Faisal Baalawi, Chief of the Financial Intelligence Unit on 3 August.
The agreement aims to enhance co-operation, co-ordination, and information sharing between the DFSA and FIU to fulfill their respective obligations related to AML/CFT compliance. This includes ensuring that applicable laws are followed by relevant entities.