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唐朱昌
唐朱昌
教授,博士生导师。复旦大学中国反洗钱研究中心首任主任,复旦大学俄...
严立新
严立新
复旦大学经济学院、金融研究院副教授,中国反洗钱研究中心执行主...
陈浩然
陈浩然
复旦大学法学院教授、博士生导师;复旦大学国际刑法研究中心主任。...
何 萍
何 萍
华东政法大学刑法学教授,复旦大学中国反洗钱研究中心特聘研究员,荷...
李小杰
李小杰
安永金融服务风险管理、咨询总监,曾任蚂蚁金服反洗钱总监,复旦大学...
周锦贤
周锦贤
周锦贤先生,香港人,广州暨南大学法律学士,复旦大学中国反洗钱研究中...
童文俊
童文俊
高级经济师,复旦大学金融学博士,复旦大学经济学博士后。现供职于中...
汤 俊
汤 俊
中南财经政法大学教授,计算机科学与技术专业工学博士,复旦大学理论...
李 刚
李 刚
生辰:1977.7.26 籍贯:辽宁抚顺 民族:汉 党派:九三学社 职称:教授 研究...
祝亚雄
祝亚雄
祝亚雄,1974年生,浙江衢州人。浙江师范大学经济与管理学院副教授,博...
高增安
高增安
复旦大学中国反洗钱研究中心特聘研究员,专事反洗钱与贸易领域的研...
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顾卿华
复旦大学中国反洗钱研究中心特聘研究员;现任安永管理咨询服务合伙...
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9 jailed, fined millions in UAE over Dh306m money laundering case

 

https://www.khaleejtimes.com/news/crime-and-courts/9-jailed-fined-millions-in-uae-over-dh306m-money-laundering-case

 

Nine individuals and nine firms have been found guilty in a Dh306-million money laundering case. An Abu Dhabi court on Tuesday fined the individuals Dh5 million each, while the companies will pay Dh50 million each.

 

 

The convicts have been sentenced to jail terms ranging from seven to 10 years. The firms’ proceeds obtained illegally — whether cash, tangible or intangible assets — will be confiscated.

 

The defendants had tried to conceal the source of money obtained by illegal activities in multiple banking transactions. The convicts include an Emirati, a Briton, a French, a Dutch and an Indian.

 

Tracing the illegal trail

 

Officials explained that the arrest and prosecution of the accused took place after “thorough tracking and scrutiny of financial transactions”. These efforts were part of “integrated efforts” by the UAE to combat money laundering crimes.

 

Court documents stated that the UAE Central Bank reported suspicious banking transactions by two companies. These firms saw an increase in the number of transactions that was “inconsistent with their activities”.

 

Investigations revealed that the suspicious transactions were done to conceal the source of money procured illegally.

 

Investigations

 

An investigation by the Abu Dhabi Public Prosecution revealed that the first defendant in the case tried to conceal his illegal activities in oil trading. He was operating without a licence from the competent authorities.

 

He used several methods, including transferring funds to other companies. Some of these firms were fictitious while others were created by their owners specifically for the purpose of concealing the source of funds.

 

The investigations also showed that the first accused agreed with the other defendants on transferring some of the money collected from his illegal activities to the accounts of their companies.

 

After the Central Bank spotted irregularities, it asked the defendant to submit documents to verify those operations, which he failed to do.