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U.S. Treasury official says UAE bank communication needed to curb security risks -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO Economist Adewale “Wally” Adeyemo answers questions at his Senate Finance Committee hearing for Deputy Secretary to the Treasury in Dirksen Senate Office Building, Washington, D.C., U.S.A, 02/23/2021 Greg Nash

WASHINGTON (Reuters] – Wally Adeyemo was the Deputy U.S. Treasury Secretary and told the United Arab Emirates’ banking executives that they must maintain open communication on security issues such as money laundering, illicit financing, according to the Treasury on Tuesday.

Adeyemo was on a visit to the Middle East for discussion of economic and security priorities.

Treasury reported that Adeyemo, the Deputy Secretary, highlighted the necessity for open communication between the financial sector as it was crucial to jointly efforts to prevent abuses in the US and global financial systems.

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