Dubai authorities have successfully dismantled two significant international money laundering networks involved in smuggling a total of Dhs641 million, in collaboration with key federal agencies. The dubai Public Prosecution has submitted charges against an Emirati citizen, 21 british nationals, two Americans, a Czech national, and two companies owned by the Emirati individual to the criminal court of First Instance in Dubai. The individuals and companies are accused of holding illicit funds totaling Dhs461 million and of engaging in forgery of official documents and their usage. Investigations uncovered that the funds were illicitly transferred from the UK to the uae, utilizing the two local companies as fronts to conceal their true origins. The network employed forged documents and circumvented customs inspections by falsely representing the funds as earnings from legitimate UK trade.
In a separate successful operation, a partnership between the dubai Economic Security Centre and the Public Funds Prosecution in dubai disrupted an international organized crime network involved in money laundering transactions amounting to Dhs180 million using cryptocurrencies. The dubai Public Prosecution has also referred the case, which involves a network of 30 individuals and three companies, to the Money Laundering court within dubai Courts. This network, which executed complex money laundering activities worth Dhs180 million through cryptocurrencies, operated both in the UK and Dubai. Investigations revealed that they laundered money in the UK via unlicensed cryptocurrency facilitators based in both the UK and Dubai.
The individuals involved, identified as two indian nationals and one british national, orchestrated the scheme that included proceeds from illegal activities such as drug trafficking, fraud, and tax evasion in the UK. A thoroughly organized operation resulted in the arrests of the suspects and the freezing of bank accounts implicated in the money laundering endeavors. The achievements of these intricate operations were made possible through the collaborative efforts of the Public Funds Prosecution in dubai, the dubai Economic Security Centre, the Anti-Money Laundering Unit of the dubai Police, the uae Financial Intelligence Unit, dubai Customs, and the international Cooperation Department of the uae Ministry of Justice.

Essam Issa Al Humaidan, the Attorney General of dubai, praised the Public Prosecution, law enforcement agencies, and involved local and federal organizations for their coordinated and thorough investigations that resulted in the successful termination of these sophisticated international money laundering schemes. He emphasized the importance of these actions in addressing complex financial crimes, safeguarding the national economy, and promoting financial stability. His Excellency reaffirmed Dubai's dedication to enforcing anti-money laundering regulations, combating organized financial crime, and enhancing international collaboration to support global financial integrity.
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G GOWTHAM

27/12/2024 09:46 PM