The UK and UAE will ramp up the targeting of those financing terrorism and serious and organised crime gangs as part of a landmark new partnership. The new agreement was signed by UK Home Secretary Priti Patel and UAE Minister of State Ahmed Ali Al Sayegh on Friday.
The agreement called the UAE-UK Partnership to Tackle Illicit Financial Flows is part of the new, Partnership for the Future between the two countries as announced by Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces Sheikh Mohamed bin Zayed Al Nahyan, and the UK Prime Minister Boris Johnson.
The partnership offers a platform to advance the priorities laid out in the UK’s Integrated Review and the UAE’s National Anti-Money Laundering and Counter Terrorist Financing Strategy.
“I will always take the strongest possible action to keep the British people safe, and this new agreement bolsters both our countries efforts in going after the terrorists and serious and organised crime gangs that seek to do us harm,” Home Secretary Priti Patel said. “The partnership will help to keep the public safe, protect our prosperity and bring dangerous criminals to justice.”
The UAE Minister of State Ahmed Ali Al Sayegh said the UAE stands with the UK in the global fight against illicit finance. “We are committed to stamping out terrorist financing and serious and organised crime in all of its forms to protect the UAE and uphold the integrity of the international financial system,”Al Sayegh said. “Through the robust, collaborative structure of the partnership, the UAE is determined to advance our shared priorities and reinforce our efforts to keep our two nations safe, prosperous and secure.”
The partnership will enhance intelligence sharing and joint operations between the UK and UAE against organised crime networks.
The partnership will strengthen curbs on money laundering, with a particular focus on high-risk sectors such as dealers of precious metals and stones, and real-estate as well as emerging technologies such as crypto currencies.
An annual meeting between the Home Secretary and the Minister of State will ensure progress on the partnership’s objectives.
