Riyadh Hosts Arab Forum of Anti-Corruption Agencies and Financial Intelligence Units
The Arab Forum of Anti-Corruption Agencies and Financial Intelligence Units kicked off in Riyadh, with Saudi Arabia’s Presidency of State Security playing host. The focus of the event was on targeting illicit financial networks.
Global Speakers Address Anti-Money Laundering and Countering Financing of Terrorism
Distinguished speakers from around the world, including Jawhar Nfissi, Daniel Glaser, Elzbieta Frankow-Jaskiewicz, Suliman Aljabrin, Khadija Ali, and Mohamed Allal Al-Kahil, gathered to discuss the importance of institutional frameworks and joint coordination in combatting financial crimes.
Saudi Arabia’s Commitment to Upholding Rule of Law
The discussions at the forum highlighted Saudi Arabia’s dedication to upholding the rule of law, promoting fair competition, and ensuring security and prosperity for all. The Kingdom is actively working towards harmonizing its legal frameworks with international standards to combat money laundering and terrorism financing.
Egmont Group’s Efforts in Fighting Illicit Financial Networks
Elzbieta Frankow-Jaskiewicz, interim chair of the Egmont Group of Financial Intelligence Units, emphasized the importance of international collaboration in fighting financial crimes. The firm’s work in developing typologies and enhancing FIU capabilities plays a crucial role in the global fight against terrorism financing.
Challenges in Implementing Anti-Corruption Laws
Experts like Daniel Glaser and Jawhar Nfissi discussed the challenges of implementing anti-corruption laws effectively. While frameworks exist, political will and resource investment are crucial for successful enforcement. Countries like Morocco and Mauritania are working towards strengthening their institutional structures to combat financial crimes.