UAE: Dubai authorities bust major multi-million dollar laundering networks
Dubai authorities have dismantled two major international crime networks involved in laundering a combined Dh641 million through illicit operations.
In the first case, the Dubai Public Prosecution referred a group comprising an Emirati national, 21 British nationals, two Americans, a Czech national, and two companies owned by the Emirati to the Criminal Court of First Instance.
The network is accused of laundering Dh461 million, forging official documents, and using the proceeds for illicit purposes.
Investigations revealed the funds were smuggled from the UK to the UAE via two local companies used as fronts. Forged documents and false declarations of legitimate trade proceeds helped the group bypass customs inspections.
In the second case, an international crime network specializing in cryptocurrency-based money laundering was exposed. This operation involved laundering Dh180 million through unlicensed cryptocurrency intermediaries operating in the UK and Dubai.
Essam Issa Al Humaidan, Attorney General of Dubai, commended the Public Prosecution, law enforcement agencies, and partnering local and federal agencies for conducting coordinated investigations that led to the successful dismantling of the networks.
These operations were conducted collaboratively by 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.
