Two big international organizations involved in money-laundering operations with illegal transfer of funds worth a total of AED641M have been successfully broken up in Dubai by the authorities working in tandem with important federal authorities.
The Dubai Public Prosecution referred an Emirati, along with 21 British, two Americans, and a Czech national, along with two companies owned by the Emirati to the Criminal Court of First Instance at Dubai Courts. As this courts all the individuals and the companies and they shall face charges of possessing illicit funds of AED461 million. They will also be charged for official documents forgery and use.
The investigations by the Dubai authority uncovered funds that were smuggled from the UK to UAE. They were using the two Emirati companies as a cover to conceal their illicit origins. The organization also got past customs inspection used forged documents by falsely declaring the illicit funds as earnings from a legitimate trade in the UK.
Another successful operation was conducted by Dubai Economic Security Centre in collaboration with Public Funds Prosecution. They were able to interrupt an international organized crime network that was involved in money laundering operations using cryptocurrencies amounting to AED180M.
The case involving a network of 30 individuals and three companies was referred to the Money Laundering Court at Dubai Courts by Dubai Public Prosecution. The crime network conducted complex money laundering operations worth AED 180 million and they used cryptocurrencies as transactions. The network was operating across the UK and Dubai. The network was laundering cash using unlicensed cryptocurrencies intermediaries present in the UK and Dubai as per the investigations.
Two Indian and one British national were identified as accused. They planned the scheme where the proceeds came from illegal activities such as drug trafficking, fraud, and tax evasion in the UK. A careful and precise operation was planned by the authorities that led to the arrest of the 3 accused. The culprits’ bank accounts used for money laundering activities were frozen.
These operations were successfully carried out with the collective efforts of the Public Funds Prosecution in Dubai, Dubai Economic Security Centre, Dubai Police’s Anti-Money Laundering Unit, the UAE Financial Intelligence Unit, Dubai Customs, and the International Cooperation Department at the UAE Ministry of Justice.
His Excellency Essam Issa Al Humaidan, Attorney General of Dubai, congratulated all the agencies that helped in successfully carrying out the operation. He commended the Public Prosecution, law enforcement agencies, and partnering local and federal agencies for successful dismantling of the sophisticated international money laundering networks by conducting well or castrated and detailed investigations.
His Excellency Essam Issa Al Humaidan also highlighted the importance of these efforts by all the agencies in tackling complex financial crimes, protecting the national economy, and enhancing financial stability. He also reiterated Dubai’s commitment in enforcing anti-money laundering laws, combating organized financial crime, and strengthening international cooperation to uphold global financial integrity.
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