US embassy cable - 05ABUDHABI4768

UNCLAS ABU DHABI 004768 
 
SIPDIS 
 
NEA/ARPI; PLS PASS TO DOJ, OPDAT 
 
E.O. 129589:  N/A 
TAGS:  TFIN, PREL, TC 
SUBJECT: USG AND UAEG HOST "ADVANCED FINANCIAL CRIMES" 
CONFERENCE, NOVEMBER 19-21, IN ABU DHABI 
 
 
1. (U) The Office of Overseas Prosecutorial Development, 
Assistance and Training of the United States Department of 
Justice (OPDAT), the Central Bank of the UAE and the Middle 
East and North African Financial Action Task Force 
(MENA/FATF) held a conference in Abu Dhabi, UAE from 
November 19-21.  All GCC countries were represented at the 
conference.  An audience of 250 attended the three-day 
meeting, participants representing a wide cross-section of 
government agencies including the Ministries of Justice, 
Public Prosecutor's Offices, Ministries of State Security, 
Ministries of Finance, Ministries of Interior, Central Bank 
authorities, Ministries of Economy, customs, representatives 
from financial crimes investigative units as well as private 
banks. 
 
2.  (U) The Ambassador, the Deputy Governor of the UAE 
Central Bank and a representative of the General Secretariat 
of the GCC all gave opening remarks at the conference. 
Ambassador Sison commended the strong international 
cooperation in fighting money laundering and the financing 
of terrorism and stressed the need for continued engagement 
among nations in order to prevent further criminal activity. 
The Central Bank Governor concluded the conference by 
stating that, in order to combat financial crimes, each 
country should have a legal framework, financial and 
regulatory supervision, a financial intelligence unit, 
highly capable law enforcement authorities, judicial means 
to prosecute criminals, coordination among the various 
stakeholders in each country as well as international 
cooperation. 
 
3.  (U) The conference provided an opportunity for the 
countries to share their understanding of how criminals, 
including terrorists and terrorist organizations, abuse 
financial systems and served to enhance participants' 
capacity to investigate, prosecute and adjudicate cases of 
advanced financial crime.  The delegations discussed the 
legal frameworks for detecting, investigating and 
prosecuting financial crimes and shared experiences and 
lessons learned.  Participants also re-emphasized the need 
for transparency and traceability of financial transactions, 
especially during the investigative stages of a case. 
 
4. (U)  Detailed report to follow. 
 
SISON