UAE cracks down on illegal money

The UAE said yesterday it would sign new agreements with 17 international organisations as part of its ongoing campaign to combat money laundering and funding of terrorism.

The Central Bank said they had agreed to sign the memoranda of understanding with those organisations at an international anti-laundering conference, which ended in the Qatari capital Doha on Saturday.

"The UAE is committed to international co-ordination in fighting laundering and financing of terrorism… we want to enhance co-operation with all our counterparts in this regard," said Abdulrahim Al Awadi, Assistant Executive Director of the UAE's Anti-money Laundering and Suspicious Cases Unit.