Emirates News Agency – Anti-Money Laundering and Counter-Terrorist Financing Executive Office, Federal Nuclear Regulatory Authority sign MoU

ABU DHABI, 20th December, 2022 (WAM) — The Executive Office for Anti-Money Laundering and Countering the Financing of Terrorism, (“EO AML/CTF”), has partnered with the Federal Authority for Nuclear Regulatory (“FANR”) to facilitate information passing through the FAWRI TICK system. exchange.

The signing of the MoU will establish a framework for cooperation to enhance the implementation and operation of the FAWRI TICK system and develop joint procedures.

Under the terms of the agreement, EO AML/CTF and FANR will share information and data through the FAWRI TICK system related to proliferation financing covered by the Financial Action Task Force (FATF); terrorism financing money laundering; implementation of targeted financial sanctions; combating illegal organize.

Hamid Al Zaabi, Director General of EO AML/CTF, said the MoU will enhance the UAE’s effectiveness in combating proliferation financing and implementing targeted financial sanctions.

“The proliferation of weapons of mass destruction remains a fundamental threat to regional and global stability, and the UAE, together with the United Nations and international partners, has taken concrete steps to reduce this threat. Facilitating information sharing among agencies improves the national fight against proliferation The effectiveness of efforts to evade sanctions. I am pleased that FANR has joined the group of government entities using the FAWRI TICK system.”

In the first phase of the MoU, FANR will organize workshops, seminars and forums for its staff on how to use the FAWRI TICK system and provide ongoing training sessions.

FANR will also participate in wider government initiatives involving the FAWRI TICK system, the UAE’s national information sharing system for proliferation financing cases and the enforcement of targeted financial sanctions, currently used by more than 80 government entities.