As financial fraud continues to become more complex and scaled in the region, the United Arab Emirates (UAE) is initiating a coordinated regional response. A regional initiative has been proposed aimed at countering cross-border fraud and associated money laundering. It was noted that conflicts in the Middle East have triggered a surge in financial crime.
Anti-money laundering specialist Khalid Saif Al Zaabi stated that fraud has become the most prevalent and widespread crime currently, affecting all segments of the population, from children to the elderly.
Al Zaabi, who holds a position in the Secretariat of the National Anti-Money Laundering and Counter-Terrorism Financing Committee (NAMLCFTC) and serves as Chairman of the MENAFATF Target Group for Financial Actions in the Middle East and North Africa, confirmed that this proposal will be officially presented at the group's plenary meeting in Abu Dhabi in November. The briefing took place in Abu Dhabi on the sidelines of the 15th UN Congress on Crime Prevention and Criminal Justice.
Al Zaabi explained that funds obtained through fraud are considered illicit money that criminals transfer through financial institutions, and these funds can ultimately be used to finance other crimes, including human trafficking and terrorism.
The key factor necessitating this initiative is the cross-border nature of the fraud itself: a scheme can originate in one country, target victims in another, and move proceeds through a third. Al Zaabi noted that risk assessments across the region consistently point to fraud as a highest priority threat, as its scope expands alongside instability caused by recent regional conflicts. He added that the more open a country's financial system is, the higher its vulnerability to risks.
The initiative plans to hold four to five regional workshops for participating countries to facilitate experience sharing and joint intelligence gathering on fraud patterns. A special working group, composed of representatives from member states, will study national risk assessments, identify legislative gaps, and develop targeted strategies and regulations to counter money laundering related to fraud.
Artificial intelligence has already been used in risk assessments, successfully reducing a process that usually takes a year to five days, with results comparable to traditional expert evaluations. AI tools will also play a central role in this initiative, helping authorities map fraud types and identify regulatory loopholes in member states.
The UAE, which met all 15 recommendations of the Financial Action Task Force (FATF) in 2024 and was removed from the enhanced monitoring list, operates based on a national anti-money laundering strategy involving 94 government entities covering legislative, law enforcement, and regulatory bodies. In April 2026, the national committee adopted a new National Guidance on Financial Intelligence and Money Laundering Investigations, updating procedures for asset tracking and confiscation, as well as coordination among competent authorities—a system Al Zaabi called a regional benchmark for countries seeking to strengthen their defense against financial crime.
