The Emirates News Agency reported that the Global Coalition to Fight Financial Crime selected Mohamed Shalo as vice-chair of its advisory board during proceedings on October 7 2026 in Abu Dhabi. Shalo serves as director of the strategic partnerships and communications department at the general secretariat of the UAE’s National Committee for Anti-Money Laundering and Countering the Financing of Terrorism and Proliferation Financing. Hamid Saif Al Zaabi secretary-general and vice-chair of that national committee welcomed the appointment. Al Zaabi stated that Emirati professionals have the expertise and capabilities to contribute effectively to international efforts to combat financial crime.
Xolisile Khanyile chair of the Global Coalition to Fight Financial Crime described Shalo as a valuable addition to the advisory board in remarks carried by the Emirates News Agency. Khanyile cited his expertise in combating financial crime his ability to build effective partnerships and his contribution to shaping strategic priorities. The coalition chair expressed anticipation of his role in advancing the group’s overall vision. The advisory board supplies expert insights to guide the coalition’s strategic direction while helping it address policy developments emerging risks and global priorities.
The advisory board also works to maintain the integrity and credibility of the coalition’s initiatives according to a coalition assessment. Its members ensure that programs align with practical challenges confronting both public and private sector organizations. The coalition itself functions as a collaborative platform uniting governments private entities and international bodies against financial crime. Shalo noted that the appointment reflected UAE leadership support for Emirati talent and the increasing presence of UAE professionals in specialized international forums.
United Nations Office on Drugs and Crime estimates place the scale of global money laundering between 2 and 5 percent of annual gross domestic product. The range equates to annual losses of $800 billion to $2 trillion a figure that has prompted heightened international coordination. LexisNexis Risk Solutions data places worldwide financial crime compliance costs at more than $206 billion in recent tallies. These expenditures underscore the resource demands placed on institutions and regulators seeking to mitigate such threats.
The UAE has recorded measurable progress in its domestic anti-financial crime framework after exiting the Financial Action Task Force grey list earlier in 2024 according to official assessments. National authorities have expanded investigations information-sharing agreements and enforcement actions in line with global standards. Hamid Saif Al Zaabi currently leads the UAE’s national team preparing for the next mutual evaluation cycle. His committee coordinates across government bodies to sustain compliance and effectiveness.
The appointment coincides with the coalition’s focus on emerging risks including those tied to digital assets and transnational organized crime networks. Coalition members emphasize public-private partnerships to close gaps in detection and prevention. Shalo’s new responsibilities will include helping refine strategic priorities based on operational experience. The development further integrates UAE perspectives into global policy discussions on financial integrity.
