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Deloitte symposium explores role of Public-Private Partnerships and Technology in addressing financial crime 

The gathering provided insights on the delisting of the United Arab Emirates from FATF ‘grey’ watchlist 

Dubai, United Arab Emirates, 19 March 2024 – The leading global professional services firm, Deloitte, hosted the seventh annual Financial Crime Symposium in Dubai, gathering professionals from various sectors of the global financial services industry, including law enforcement, regulatory bodies, financial institutions and experts in the field of financial crime. 

The Symposium provided a vibrant forum through keynote addresses and panel discussions with insights on the UAE’s delisting from the FATF ‘grey’ watchlist. Drawing on a global network of experts, the Symposium explored the joint efforts undertaken as part of a Public-Private Partnerships (PPP) and highlighted the key success factors and challenges, including the role of tactical information sharing and the role of the PPP beyond the banking sector.

“The fight against financial crime is a ‘whole system’ challenge. Combatting it effectively requires stakeholders from across both the public and private sectors to work in collaboration both domestically and internationally and across all elements of the economy to achieve common objectives. By fostering new alliances, embracing innovative strategies, and confronting our shared adversary, we can amplify our impact. The initiatives undertaken to build public-private partnerships in the UAE are not only commendable but also indispensable in our collective fight against financial crime,” Chris Bostock, Leader of the Forum for Tackling Illicit Finance, Deloitte UK.

Furthermore, the Symposium delved into significant developments within the financial crime domain, encompassing topics such as the transformative impact of Artificial Intelligence (AI) technologies on the anti-financial crime industry. Additionally, the event addressed the intricate interplay between trade-based money laundering, export controls, and international sanctions.

“It was a pleasure to reconnect with so many industry professionals at the seventh Deloitte Middle East Financial Crime Symposium. The Symposium provided valuable insights from key experts who discussed the initiatives undertaken by the UAE in its successful removal from the FATF ‘grey’ watchlist. Furthermore, discussions centered around the proactive measures and strategies for achieving a positive outcome in the upcoming fifth round of FATF evaluations in 2026. The insights gained during the Symposium should indeed contribute to the ongoing dialogue in the fight against financial crime,” Ralph Stobwasser, Head of Financial Crime Advisory, Deloitte Middle East.

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Bassel Barakat
External Communications | PR and Media

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About Deloitte & Touche (M.E.) LLP:

Deloitte & Touche (M.E.) LLP (“DME”) is the affiliate for the territories of the Middle East and Cyprus of Deloitte NSE LLP (“NSE”), a UK limited liability partnership and member firm of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”).

DME is a leading professional services firm established in the Middle East region with uninterrupted presence since 1926. DME’s presence in the Middle East region is established through its affiliated independent legal entities, which are licensed to operate and to provide services under the applicable laws and regulations of the relevant country. DME’s affiliates and related entities cannot oblige each other and/or DME, and when providing services, each affiliate and related entity engages directly and independently with its own clients and shall only be liable for its own acts or omissions and not those of any other affiliate. DME provides audit and assurance, consulting, financial advisory, risk advisory and tax, services through 29 offices in 15 countries with more than 5,900 partners, directors and staff. 

About Deloitte:

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms, and their related entities (collectively, the “Deloitte organization”). DTTL (also referred to as “Deloitte Global”) and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL, NSE and DME do not provide services to clients. Please see www.deloitte.com/about to learn more.

Deloitte provides industry-leading audit and assurance, tax and legal, consulting, financial advisory, and risk advisory services to nearly 90% of the Fortune Global 500® and thousands of private companies. Our professionals deliver measurable and lasting results that help reinforce public trust in capital markets, enable clients to transform and thrive, and lead the way toward a stronger economy, a more equitable society and a sustainable world. Building on its 175-plus year history, Deloitte spans more than 150 countries and territories. Learn how Deloitte’s approximately 415,000 people worldwide make an impact that matters at www.deloitte.com. 

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