Hamed Al-Zaabi: Regional Cooperation Boosts Fight Against Financial Crimes
The article focused on the efforts of the Middle East and North Africa Financial Action Task Force (MENAFATF) in enhancing the effectiveness of anti-money laundering and counter-terrorism financing systems. It clarified that success depends on the integration of national efforts and regional and international cooperation, and highlighted the need to translate standards into practical outcomes to protect the financial system and prevent criminal networks from benefiting from illicit funds. The article discussed the group's support for countries in capacity building, sharing expertise, and implementing risk assessments, emphasizing the importance of political will and collaboration among national authorities. It also mentioned work with countries such as Syria, Jordan, and Palestine, as well as cooperation with the Financial Action Task Force (FATF) to improve information exchange—especially amid the challenges posed by the digital age, including virtual assets and cross-border crimes. The proposed regional initiative to combat cross-border fraud was also highlighted, focusing on prevention and information sharing with the aim of accelerating detection and asset recovery. The group's ongoing efforts to enhance cooperation and develop capacities to confront financial crimes and protect the economy were underscored.
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