Dubai thwarts international criminal schemes to launder money worth 641 million dirhams

The authorities in Dubai were able to thwart two money laundering crimes worth 641 million dirhams.

This comes within the framework of the United Arab Emirates’ continued efforts to combat cross-border organized crime in all its forms, including money laundering crimes, and its keenness to firmly confront this type of crime.

In detail, the Dubai authorities, in cooperation with the federal authorities, succeeded in dismantling a major international network involved in the possession of illicit funds worth 461 million dirhams. The network included an Emirati person and two companies owned by him, 21 Britons, two defendants of American nationality, and an accused of Czech nationality.

Investigations revealed that money was smuggled from the United Kingdom to the UAE using the two aforementioned companies as fronts to hide the illegal sources of that money, while the network used forged documents that it submitted to customs checkpoints in Dubai to release the cash amounts that the defendants claimed were the proceeds of legitimate commercial activities in UK.

The Public Prosecution referred all defendants, in their personal and legal capacities, to the Criminal Court in Dubai Courts, where they will be charged with possession of funds from unknown and suspicious sources, and forging and using official documents.

In another important security achievement, the Dubai Center for Economic Security, in coordination with the Public Funds Prosecution in Dubai, was able to thwart a money laundering scheme run by an international criminal gang that runs money laundering operations using digital currencies.

Security efforts resulted in the arrest of a number of individuals involved, large amounts of money, and assets that were used in illegal activities related to these operations.

The Public Prosecution referred the case, which includes a network of 30 people and three companies, to the competent money laundering department in the Dubai Courts.

The network had carried out complex money laundering operations worth 180 million dirhams using digital currencies, from various locations in the United Kingdom and Dubai. The Dubai Center for Economic Security, in coordination with the Public Funds Prosecution, succeeded in disrupting the network, which investigations revealed had laundered cash in the United Kingdom, through unlicensed digital currency brokers located in Britain and Dubai.

The main defendants were identified as two Indians and one Briton, who were behind the scheme that included proceeds from illegal activities, including drug trafficking, fraud and tax evasion in the United Kingdom.

Successful coordination between all concerned agencies resulted in the arrest of the accused and the freezing of bank accounts used in money laundering activities.

The Attorney General of the Emirate of Dubai, Counselor Issam Issa Al-Humaidan, praised the great success in thwarting the planners, which came as a result of exemplary coordination between the concerned authorities, as the coordination included the Public Funds Prosecution, the Dubai Center for Economic Security, the Anti-Money Laundering Department of the Dubai Police, and the Emirates Financial Information Unit. Dubai Customs, and the International Cooperation Department at the Ministry of Justice.

He praised the high professionalism that characterized this operation, through collecting evidence and tracking suspicious funds, which resulted in the uncovering of complex schemes in which the two criminal networks were involved, stressing the keenness of Dubai and the UAE to combat with full force all forms of organized crime, especially money laundering crimes.

He added that all agencies are fully carrying out their duties to ensure the elimination of all forms of crimes, which contributes to protecting the UAE economy from its negative repercussions and supporting international efforts in confronting such crimes, with their dangerous effects on the global economy.

. Dubai authorities succeeded in dismantling a major international network involved in the possession of illicit funds worth 461 million dirhams.

. The first network included an Emirati person, two companies owned by him, and 21 Britons, Americans, and Czechs.

. The second network carried out complex money laundering operations worth 180 million dirhams using digital currencies.