FinCrime Central - Latest AML/CFT News & Vendor Directory

Strengthening EU-UAE Collaboration on Financial Crime

This image is AI-generated.

The 8th EU-UAE Structural Dialogue on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), held on May 26, 2025, in Abu Dhabi, represents a critical advancement in the global fight against financial crime. This high-level diplomatic gathering underscored a shared and escalating commitment between the European Union and the United Arab Emirates to foster robust, transparent, and cooperative mechanisms aimed at safeguarding the integrity of the international financial system.

The dialogue was co-chaired by His Excellency Saeed Al Hajeri, Assistant Minister for Economic and Trade Affairs of the UAE, and Her Excellency Lucie Berger, Ambassador of the EU to the UAE. Also present was Alexandra Jour-Schroeder, Deputy Director-General for Financial Stability at the European Commission. Delegations from key institutions across both regions attended, including representatives from the UAE Ministries of Foreign Affairs, Interior, and Justice, as well as EU bodies such as DG FISMA, DG JUST, DG HOME, the European External Action Service (EEAS), Eurojust, the European Public Prosecutor’s Office (EPPO), and Europol.

The comprehensive agenda focused on amplifying judicial coordination, enhancing law enforcement collaboration, and improving the timely exchange of financial intelligence. These areas are seen as essential for preventing cross-border illicit activities, including the financing of terrorism and large-scale money laundering schemes. Al Hajeri reiterated the UAE’s drive to deepen these ties, noting that shared expertise and a collective approach are vital in addressing evolving financial crime tactics.

The structural dialogue emphasized not only the high-level political will but also tangible action points for cooperation. Chief among these was an agreement to advance mutual legal assistance frameworks, aimed at streamlining extradition and evidence-sharing processes between the EU and UAE. Enhanced communication channels between financial intelligence units (FIUs) were also prioritized to ensure real-time information exchange on suspicious transaction reports (STRs) and emerging typologies.

Another measure included the proposal for technical taskforces comprised of compliance professionals, prosecutors, and investigators from both jurisdictions. These working groups are expected to draft joint threat assessments and risk typologies relevant to both regions, targeting areas such as trade-based money laundering, virtual asset misuse, and the infiltration of professional enablers into legal structures.

The dialogue also touched upon the UAE’s progress under the Financial Action Task Force (FATF) standards, particularly in relation to Recommendation 37 (Mutual Legal Assistance) and Recommendation 40 (International Cooperation). EU officials welcomed the UAE’s ongoing implementation of FATF-compliant measures and praised its growing cooperation with European law enforcement agencies.

Advancing Joint Efforts Against Illicit Activities

Building on previous dialogues, this year’s engagement was particularly focused on institutionalizing permanent working relationships. Both parties acknowledged the growing complexity of financial crime, especially with the rise of decentralized finance, shell entities, and multi-jurisdictional fraud schemes. In response, the EU and UAE are exploring the feasibility of co-developing typology reports and red flag indicators for dual-use risks.

The dialogue also reaffirmed the need to expand public-private partnerships (PPPs) across borders. Institutions such as Europol and the UAE Central Bank’s Financial Intelligence Unit are now being encouraged to facilitate cross-border PPPs involving commercial banks, fintech platforms, and crypto exchanges. The aim is to harmonize suspicious activity monitoring procedures, improve onboarding standards, and create trusted channels for rapid alerts.

Furthermore, capacity-building initiatives were discussed to ensure that both public sector and private sector AML officers are equipped with the latest investigative tools. EU agencies offered training programs on asset tracing, crypto forensics, and sanctions evasion detection. UAE authorities, in return, committed to hosting regional AML/CFT forums, fostering a culture of continuous learning and regional leadership.

Conclusion

The 8th EU-UAE Structural Dialogue on AML/CFT has solidified itself as more than a diplomatic courtesy; it is now a strategic forum for tackling the systemic and sophisticated nature of financial crime. Both the EU and UAE have signaled not just intent, but actionable follow-through with the potential to shape a new global standard for international AML cooperation.

As the threats of illicit finance grow more complex and transnational, partnerships like the one between the EU and UAE serve as a blueprint for others to emulate. By combining political commitment, legal infrastructure, and operational collaboration, both parties are laying the groundwork for a more secure global financial landscape.