News

The Executive Office for Control and Non-Proliferation held its second summit on “Countering Proliferation Financing”, with a participation of distinguished group of experts and specialists in combating proliferation financing crimes from both the public and private sectors.

The two-day summit addressed the latest updates from the Financial Action Task Force (FATF) regarding international standards related to countering the financing of proliferation and the importance of keeping up with the new requirements to prepare for the next round of mutual evaluations.

During the summit sessions, the experts explained the emerging risks that are related to virtual assets and how they can be abused to support proliferation financing activities. Moreover the experts emphasized on the importance of information sharing between the public and private sector in order to have a unified understanding of proliferation financing risks.

Finally the Executive for Control and Non-Proliferation demonstrated the UAE’s effort on applying Targeted Financial Sanctions, Countering Proliferation Financing and Uncovering Sanction Evasion.