Dubai Authorities Dismantle Two Major Money Laundering Networks Worth AED641M

Dubai authorities, working with federal agencies, have broken up two large international money laundering networks that were hiding a total of AED641 million. This shows how seriously Dubai is taking the fight against financial crimes and how important it is to keep its economy safe.

In the first case, an Emirati man, 21 British people, two Americans, one Czech person, and two companies owned by the Emirati were sent to court. They are facing charges of having AED461 million in illegal money, using fake documents, and making those documents look real. Investigations found that the money was smuggled from the UK to the UAE. The group used two companies to hide where the money was coming from. They tricked customs by using fake papers and said the money came from legal trade in the UK.

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In another operation, Dubai’s Economic Security Centre and the Public Funds Prosecution stopped another big network laundering AED180 million through cryptocurrencies. This network had 30 people and three companies working between Dubai and the UK. The group used unlicensed cryptocurrency agents in both places to move the money and make it look clean. The money came from illegal activities like drug dealing, fraud, and tax evasion in the UK.

The main people behind this plan were two Indian men and one British man. They were arrested after a well-planned operation by the police. The authorities also froze bank accounts that were used for the money laundering to stop more illegal activities.

These successful operations were only possible because of teamwork. Several agencies worked together, including the Dubai Police Anti-Money Laundering Unit, the UAE Financial Intelligence Unit, Dubai Customs, Dubai’s Economic Security Centre, and the International Cooperation Department at the Ministry of Justice.

His Excellency Essam Issa Al Humaidan, the Attorney General of Dubai, thanked all the agencies for their hard work in catching these criminals. He said their efforts helped protect Dubai’s economy and showed how serious the authorities are about stopping money laundering. He also said that Dubai is fully committed to following the law, fighting financial crimes, and working with other countries to keep the world’s financial system safe.

These operations show that Dubai is taking a strong stand against money laundering and criminal financial activities. It also shows that Dubai is a leader in fighting against financial crime, both in the UAE and around the world.