Dubai's Economic Security Centre goes digital to increase awareness about economic threats

The agency works to safeguard investments from crimes and improve the confidence of investors and financial institutions operating in Dubai

A group of subcommittees containing government, semi-government, private and not-for-profit sectors will report to the taskforce responsible for developing Dubai's Strategic Plan 2030. Photo: Getty ImShow more

The Economic Security Centre of Dubai, which helps to nurture a stable economic environment in the emirate by combating illegal activities, has unveiled a new website as it aims to raise public awareness about economic threats.

Sheikh Maktoum bin Mohammed, Deputy Ruler of Dubai and First Deputy Chairman of Dubai’s Executive Council, unveiled the new website on Tuesday, the centre said in a statement.

Dubai’s “advanced technological infrastructure will help it sustain economic growth, accelerate digital transformation and enhance the government’s performance”, Sheikh Maktoum said.

The Economic Security Centre of Dubai was established in 2016 to promote economic security and counter financial crimes. The centre has developed a system to pre-empt potential economic threats and devise solutions to deal with challenges.

The UAE has been stepping up efforts to deal with financial crimes and money laundering. The country launched the Executive Office of Anti-Money Laundering and Counter Terrorism Financing in February 2021 to protect the integrity of its financial system.

In November, the Ministry of Economy set up an anti-money laundering department. In addition, a court was established in Abu Dhabi to tackle money laundering and tax evasion.

The new Economic Security Centre website will enhance engagement with the community and various government departments, the statement said. The website also has an online platform to raise public awareness about economic threats and one for exchanging ideas and receiving suggestions on developing economic and financial laws.

The centre works to support Dubai’s financial stability, safeguard investments from crimes, ensure the implementation of international best practices and enhance the confidence of investors and financial institutions operating in Dubai, according to the statement.

Talal Belhoul, chairman of the Economic Security Centre of Dubai, said the centre’s main role is to “ensure a stable economic environment and develop strategic plans, policies and initiatives to promote sustainable economic growth”.

The organisation has also played a significant role in mitigating the economic impact of Covid-19, working closely with its strategic partners, Mr Belhoul added.

Faisal Selaitin, executive director of the Economic Security Centre of Dubai, said effective and proactive communication with the community and businesses will help combat financial malpractices and illegal activities.