AUSTRAC and the Financial Intelligence Unit of the United Arab Emirates (UAE-FIU) last week signed a Memorandum of Understanding (MOU) for the exchange of financial intelligence.

Under the MOU, both countries will cooperate in the development, exchange and analysis of financial intelligence related to suspected money laundering, terrorism financing, and other serious crimes.

AUSTRAC CEO Nicole Rose welcomed the agreement, which builds on links already established between AUSTRAC and the UAE-FIU through the Egmont Group of Financial Intelligence Units.

"Serious and organised crime is a global threat that impacts all nations, so our response must be correspondingly global," she said. 

"This agreement with the UAE-FIU will help Australia and the UAE work together more effectively and securely to tackle these real criminal threats."

AUSTRAC has 100 international memoranda of understanding which help to strengthen our capacity to exchange financial intelligence and regulatory information with foreign counterparts.