Money laundering and financing terrorism are the most dangerous financial crimes which have negative impacts on society, a Doha seminar was told.
The seminar, titled ‘Efforts of Qatar in combating money laundering and financing terrorism’, was organised by Ahmed Bin Muhammed Military College for its teaching staff and officers from the Qatar Emiri Armed Forces.
Commander of the college Staff brig Hamad Bin Ahmed al-Nuaimi presided over the event attended by director general of General Directorate of Borders Passports and Expatriates Affairs Brig Abdullah Salim al-Ali, head of financial information unit Sheikh Ahmed bin Eid al-Thani, and head of financial crimes section Captain Ali Hasan al-Kubaisi among others.
Sheikh Eid al-Thani said: “Qatar has drafted several rules and legislations to fight money-laundering and financing terrorism in order to keep all institutions of the country far from these evils.”
Captain Al-Kubaisi noted: “The financial crimes have entered the new dimensions at international level in the recent days. This has pushed the Interior Ministry to form a section to fight financial crimes, a separate branch for combating electronic crimes, another branch for combating forgery and counterfeiting and a branch for combating money-laundering.”
He said all the efforts aimed at stopping the misuse of customers’ accounts in banks, preventing fraud operations and fighting threats against financial security.
“The section has latest equipments and highly qualified staff and the CID maintains co-ordination with Qtel for detecting and confiscating financial crime acts in addition to exchange of visits and expertise between financial crimes prevention branch and its counterpart in the developed countries,” he added.
The section co-ordinates with many international authorities such as the national committee for combating money-laundering and financing terrorism, national committee for combating human trafficking and Interpol, according to al-Kubaisi.
Brig al-Ali stressed that the country has taken many precautions for combating money-laundering and financing terrorism.
“The committee has alerted all insurance companies in the country asking them to take precautious,” he said, adding that the law has specified a series of harsh punishments against violators, which include imprisonment and fine.
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