Dubai busts two international money laundering networks worth over Dh641 million
Over 30 charged in joint crackdown on crime rings
Dubai authorities have dismantled two extensive money laundering networks, exposing operations worth over Dh641 million.
Working closely with federal authorities, Dubai Public Prosecution referred an Emirati national, 21 British nationals, two Americans, and a Czech national to the Criminal Court of First Instance. Two local companies, owned by the Emirati, were central to the laundering scheme.
Investigations revealed that funds were smuggled from the UK to the UAE using these companies as fronts. Forged documents and false declarations of legitimate trade were used to bypass customs inspections and mask the funds’ illicit origins.
Cryptocurrency scheme unveiled
In a separate operation, Dubai Economic Security Centre and the Public Funds Prosecution disrupted a money-laundering network worth Dh180 million. This group leveraged unlicensed cryptocurrency intermediaries to launder cash from the UK to Dubai.
The scheme involved 30 individuals and three companies, with the primary suspects identified as two Indian nationals and one British national. These funds were linked to illegal activities, including drug trafficking, fraud, and tax evasion in the UK. Authorities froze bank accounts tied to the operation, shutting down its financial activities.
Dubai’s anti-crime commitment
The success of these operations was a testament to the collaborative efforts of various agencies, including Dubai Police’s Anti-Money Laundering Unit, Dubai Customs, and the UAE Ministry of Justice’s International Cooperation Department. The UAE Financial Intelligence Unit played a pivotal role in identifying suspicious transactions, enabling coordinated action across multiple jurisdictions.
Attorney General Essam Issa Al Humaidan praised the precision and coordination involved in the investigations. He underscored the significance of these efforts in tackling complex financial crimes, protecting the national economy, and enhancing financial stability.
The attorney general also reaffirmed Dubai’s commitment to enforcing anti-money laundering laws, combating organised financial crime, and strengthening international cooperation to uphold global financial integrity.