Central Bank organises workshop between UAE and UK
WAM Abu Dhabi, May 8th, 2012 (WAM) -- The Central Bank of the UAE announced today that a Joint Workshop between United Arab Emirates and the United Kingdom regarding "Recovery of Proceeds of Crime and Asset Sharing" will be held tomorrow at the Intercontinental Dubai Festival City, Dubai.
In a statement today, the central bank said that the workshop is organized by the Anti-Money Laundering and Suspicious Cases Unit at the Central Bank of the UAE in cooperation with the Crown Prosecution Service (CPS) and Her Majesty's Revenue '&' Customs (HMRC) from the United Kingdom.
The Anti-Money Laundering '&' Suspicious Cases Unit has invited officials and experts from various UAE Federal and Local Government entities and establishments including from Public Prosecution and Law Enforcement, Federal Customs Authority and other Customs Departments, Securities and Commodities Authority, Insurance Authority, Charitable Organizations, Dubai International Financial Centre/Dubai Financial Services Authority '&' Other Free Zone Entities and Representatives of Legal Firms and Academic Institutions and others to attend and participate in the workshop besides experts from the United Kingdom. It is expected to have approximately 300 participants.
The Workshop will have seven working sessions spread over two days, where experts from UAE '&' UK Government entities as well as Lawyers '&' Academics from the UAE will present topics related to the theme of the Workshop. On the 1st day, the topics presented will be on the Legal System, Asset Recovery '&' Investigative Powers. During the 2nd day presentations will be given on legal process for Recovery of Assets, Enforcement, UK Case Studies '&' Missing Trader Intra-Community Fraud, Asset Sharing '&' International Law and on Anti-Money Laundering Initiatives '&' Challenges in the UAE. The Workshop will end with a panel discussion where all the delegates will be given the opportunity to clarify any points or issues that will be presented during the two days.
This Joint Workshop reflects the commitment of both the United Arab Emirates and the United Kingdom to work together on recovering proceeds of crime and sharing the same as per mutually agreed procedures.
This Workshop will contribute to the international efforts in recovering proceeds of crime and strengthen the AML/CFT regime in both the countries.