Deloitte Symposium Explores Tactics in Financial Crime Defence

Deloitte, recently convened the seventh annual Financial Crime Symposium in Dubai. The event brought together professionals from diverse sectors of the global financial services industry, including law enforcement, regulatory bodies, financial institutions, and experts in financial crime.

The Symposium served as a platform featuring keynote addresses and panel discussions, offering insights into the UAE removal from the Financial Action Task Force 'grey' watchlist. Drawing on expertise from a global network, participants explored the collaborative efforts undertaken through Public-Private Partnerships. Emphasis was placed on key success factors and challenges, including the importance of tactical information sharing and extending PPP roles beyond the banking sector.

Chris Bostock, Leader of the Forum for Tackling Illicit Finance at Deloitte UK, underscored the necessity for a holistic approach in combating financial crime, emphasising the importance of collaboration across public and private sectors both domestically and internationally.

Moreover, the Symposium addressed advancements in the financial crime domain, notably the transformative impact of AI technologies. Discussions also delved into complex issues such as trade-based money laundering, export controls, and international sanctions.

Ralph Stobwasser, Head of Financial Crime Advisory at Deloitte Middle East, expressed satisfaction with the Symposium's outcomes, highlighting the insights gained from discussions on the UAE's successful removal from the FATF 'grey' watchlist. He emphasised the measures and strategies discussed for the upcoming fifth round of FATF evaluations in 2026.

The event facilitated valuable exchanges among industry professionals and is expected to contribute to ongoing dialogues in the global fight against financial crime.