In a significant initiative, the General Secretariat of the National Committee for Combatting Money Laundering and Terrorist Financing has announced the launch of the third cycle of the National Risk Assessment (NRA) in the United Arab Emirates. This assessment involves collaboration with 84 specialised entities, including the private sector, with the aim of updating the national understanding of risks, establishing response priorities, and enhancing policies and procedures that improve the efficiency of the national system.
This announcement was made during a press briefing held alongside the 15th United Nations Congress on Crime Prevention and Criminal Justice in Abu Dhabi. The event saw the participation of numerous chairpersons of the sub-committees and the evaluation teams involved in the third national risk assessment.
Strengthening Financial Crime Policies
His Excellency Hamid Saif Al Zaabi, Secretary-General and Deputy Chairman of the National Committee for Combatting Money Laundering and Terrorist Financing, emphasised the crucial role of the national risk assessment. He stated, “The national risk assessment is foundational for formulating policies and setting priorities in the fight against financial crimes.” This third cycle builds upon cumulative national expertise and improves data quality and coordination among entities, allowing for a deeper understanding of the risks involved and guiding efforts and resources toward the most significant and impactful areas.