Building Trust, Exchanging Intelligence: UK & UAE Unite Against Illicit Finance
The United Kingdom with the United Arab Emirates have now taken another important step in their togetherness against illicit finance. During this two-day summit held in London, both governments reaffirmed their commitment to work more closely to detect, disrupt, and prevent financial crimes that cross borders.
The main part of this partnership is all about sharing more and more data and information. And with this, both countries will be able to quickly find and stop the flow of money laundering, fraud, and more illegal financial activities. As we all know Data means everything and better data sharing means investigators will have all the tools to catch small and big criminals much faster and can stop them.
This campaign is not very new to know. It is built on the basis of earlier projects like the UK–UAE Partnership towards Tackling Illicit Financial Flows and initiatives such as CAMLOT. All these past efforts show that if the two countries cooperate with each other, they can achieve whatever they want. Now, their plan is to take this cooperation even further for future betterment.
Both the UK and UAE are agreeing that financial crime has never been a local problem. It always affects the whole world, from ordinary people to big businessmen. Criminals use different tactics & international networks to hide illegal money, and only through their teamwork between countries can such threats be prevented.
With this decision and by joining forces again with all enthusiasm, the UK and UAE are spreading a very strong message that they want to be global leaders when it comes to keeping financial systems clean, fair, and trustworthy.
