UAE launches third National Risk Assessment to tackle financial crime

The UAE has launched the third cycle of its National Risk Assessment as part of efforts to strengthen the country's framework for combating money laundering, terrorism financing and proliferation financing.

The assessment brings together 84 competent authorities and private sector stakeholders to update the national understanding of financial crime risks, identify priorities and support the development of more effective policies and measures.

The announcement was made by the General Secretariat of the National Committee for Anti-Money Laundering, Combating the Financing of Terrorism and Financing of Proliferation during a media briefing on the sidelines of the 15th United Nations Congress on Crime Prevention and Criminal Justice in Abu Dhabi.

Hamid Saif Al Zaabi, Secretary-General and Vice Chair of the National Committee, said the assessment provides a foundation for policymaking and prioritising efforts to combat financial crime.

He noted that the third cycle builds on national expertise, improved data quality and stronger coordination among authorities to develop a deeper understanding of risks and direct resources where they are most needed.

The findings will help supervisory authorities strengthen risk-based oversight, support law enforcement agencies in targeting threats more effectively and enable private sector organisations to update their risk assessments and internal controls.

The assessment will examine a broad range of issues, including illicit financial flows, beneficial ownership transparency, asset recovery, virtual assets, emerging financing channels and proliferation financing risks.

Its findings are also expected to support efforts to identify, trace, freeze and confiscate criminal proceeds.

The third cycle builds on the findings of previous assessments conducted in 2018 and 2024, which helped shape the UAE's 2024-2027 National Strategy to combat financial crime.