Transparency International said that the United Arab Emirates is part of a global system for money laundering, confirming that the recent Financial Action Task Force report on money laundering and terrorist financing in the UAE confirms its association with major cross-border corruption scandals.

The report pointed to the smuggling of millions of state funds to the daughter of the former president of Angola, to Dubai, at the beginning of this year.

He added that what he called the "chaotic approach" followed in registering companies in the Emirates made it difficult for the authorities to know who was behind the fake companies in them.

The real estate sector in the Emirates also allows people to take advantage of the complex property system to buy real estate and conceal their identities and sources of their money.

Safe haven
The report added that the UAE authorities do not cooperate with international partners, making it a magnet and a safe haven for criminals.

The report emphasized that the Global Authority for Control of Illegal Funds will place the UAE under surveillance for a year, and clarified that if the UAE fails to make improvements to the anti-money laundering mechanism, it may find itself alongside countries such as Syria, Yemen and Pakistan, which suffer from "strategic deficiencies" According to the organization.

This report comes after a similar report published at the end of last April on the Financial Action Group (FATF), which confirmed that the UAE is not doing enough to prevent money laundering, despite its recent progress.

The report took 14 months to prepare, and included a visit to the UAE in July.