In support of global efforts and in compliance with the standards of the International Financial Action Task Force (FATF)
The UAE subject perpetrators of money laundering and terrorist financing crimes to deterrent penalties
The legislator gave clear authority to the Public Prosecution and its competent partners to receive reports of suspicious financial practices and issue decisions.
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The First Public Prosecutor, Head of the Public Funds Prosecution, Counselor Ismail Madani, confirmed that the Public Prosecution continues its unremitting efforts regarding the file of the national strategy to confront money laundering crimes and combating the financing of terrorism and the system for combating financial crimes in the United Arab Emirates, and in supporting the state's efforts in addressing these crimes. By unifying the roles of the competent government agencies, and enhancing cooperation among them.
He explained that the legislator gave clear authority to the Public Prosecution and its specialized partners, such as courts, police agencies, the Central Bank, Customs, the Financial Information Unit, the Executive Office to Combat Money Laundering and Combating Terrorist Financing, and other law enforcement agencies to receive reports about suspicious financial practices, issue decisions, track and seize funds and monitor Bank accounts, the role played by the Criminal Court in adjudicating freedom-restricting penalties, confiscations and fines for funds obtained from these crimes, and other legal authorities and powers that emerged from supportive measures that helped in detecting crimes and their perpetrators without prejudice to the legislation in force in the country.
For his part, the Executive Director of the Dubai Center for Economic Security, Faisal bin Sulaiten, stressed that the efforts made and joint coordination with the competent authorities in the field of combating economic crimes and protecting the funds and gains of the Emirate of Dubai in particular and the United Arab Emirates in general, from this type of crimes are: It is nothing but an embodiment of the commitment to the directives of the leadership of the state to confront money laundering crimes and combat the financing of terrorism, and to detect and deter improper and criminal financial practices that are committed on the territory of the state, or even in the use of its lands as a transit or transfer of funds resulting from any criminal activity.
Bin Sulaiten referred to the UAE’s continuous support for the relevant global efforts to counter money laundering crimes and combat the financing of terrorism, in compliance with the standards of the International Financial Action Task Force (FATF), as the state has taken important steps during the past years to develop the legal framework that ensures achieving it. This goal, and the identification of institutional paths to implement the procedures and measures that would contribute to countering money laundering and combating the financing of terrorism, explaining that the establishment of the Dubai Center for Economic Security came to be the first line of defense in the Emirate of Dubai to protect its economy from pests and economic crimes and work to reduce them. To enhance the confidence of investors from all over the world in Dubai's secure environment and encourage international financial institutions to make Dubai the center of their business.
He called on all public and private institutions and members of society to participate in combating the risks resulting from actions harmful to economic security that investors or consumers may be exposed to, or any funds and gains belonging to the emirate, through all channels available to the competent authorities and authorities in the emirate, including the Dubai Center for Economic Security.
As part of the efforts of the concerned authorities in the state to combat money crimes, three defendants were involved in a case, where the court issued its ruling punishing the first accused with imprisonment for five years and deporting him from the state, and punishing the second accused with imprisonment for three years and deporting him from the state, and confiscating an amount of five million and 500 thousand dirhams. , deposited in the account of the second accused, and an amount of 1.5 million dirhams in the account of the second accused, which is seized by the Public Prosecution, and a fine of the two defendants the amount of 53 million and 476 thousand and 23 dirhams, the value of the money subject of the crime, and a fine of the three legal companies 10 thousand dirhams for each company for the charges of fraud and breach of trust The accusation of money laundering and forgery in an unofficial document, after the victim was exposed to these crimes by the accused, by which the three defendants defrauded and seized sums of money amounting to (one million dirhams) belonging to the victim and his company, using a fraudulent method.
The defendants took advantage of the victim's knowledge about his basic profession as an auditor, and that he is a manager and familiar with all the financial balances of the company that he co-owns with others, and according to the commercial license issued to it by the Department of Economic Development in Dubai, it rents 23 offices and leases them back.
One of the defendants claimed that their company achieves profits in the range of 500,000 dirhams annually through investment rights in re-leasing those offices. To show the value of those expected profits, and that they are increasing in the following years, and then tempted him to agree to sell him for one million dirhams, which would have deceived the victim and his company and made him hand over those amounts to the three defendants through six payments, including three payments of 425 One thousand dirhams in cash and transferring the remaining amounts, amounting to 575,000 dirhams, at their request through transfers from a company account to an institution’s account, as he is authorized to sign it as indicated in the papers.
The three aforementioned defendants also committed the crime of breach of trust with the victim himself, by embezzling sums of money amounting to 982 thousand and 752 dirhams, which belong to the victim and his company, which was handed over to them by way of agency, and to be used for the benefit of the victim by taking advantage of the victim's desire to Changing the furniture for 23 offices invested by the company and purchased from it (which are the offices related to the same criminal incident) and that the third accused is a co-owner of the company, and they offered the victim to furnish the aforementioned offices through that last company with sums of money amounting to one million and 227 thousand and 500 dirhams, and they asked him for a payment An advance of 80%, amounting to the aforementioned amount, and transferring it to the account of that company, which is managed by the third accused, to use it in the manufacture and shipment of furniture for his benefit to the state, and then disappearance and escape to the detriment of the holders of the right to it.
Each of the three aforementioned defendants also committed another crime of fraud against the same victim, by seizing for themselves sums of money amounting to seven million and 153 thousand and 690 euros (equivalent to 34 million and 337 thousand and 712 dirhams) belonging to the victim, his company and another foreign company. (a partner with them in joint commercial operations in the country), using fraudulent use of the victim’s and his company’s search for a plot of land to buy it to build a hotel or hotel apartments, and they offered him maps and plans for a plot of land in the Business Bay area suitable for the establishment of that project.
The defendants took him to the location of that piece to inspect it, and claimed to him, contrary to the truth, that he was an intermediary from its owner to sell it, and that the latter wanted to sell it for 67 million and 475 thousand and 430 dirhams, and he would agree to reduce its value to 58 million, 337 thousand and 745 dirhams (what equivalent to 12 million and 153 thousand and 690 euros) in the case of cash payment and asked him to send the amounts received from their partner (the concerned investor in the foreign country) to his company’s account in euros until he opens a real estate account dedicated to that project, which would have deceived the victim and his company and made him give The order to send that amount, which in turn transferred the amount of 12 million 153 thousand and 690 euros through one transfer from his company's account to be used in the purchase of that piece.
The defendants transferred only 5,000 euros to the escrow account of the victim's company, and then seized the rest of those amounts and transferred them to accounts in their favour, and the first accused disappeared. By making transfers to the accounts of institutions and then transferring part of those amounts in their favor by means of several different checks, either in the name of unknown persons, or they were written in the name of the first fleeing accused with the intention of concealing and disguising their illegal source, as well as to conceal the manner of their disposal and movement, in addition to washing part of those Funds through the use of personal accounts by depositing some checks and re-transferring the amounts to the account of one of the accused, withdrawing and seizing the remaining amounts and using part of them to purchase a plot of land in his favor with his knowledge of that.
5.23 million dirhams
As part of the efforts of the concerned authorities in the country to combat financial crimes, a former employee of a Dubai bank was convicted of embezzling more than 5.23 million dirhams belonging to real estate development companies that were deposited with the bank, by agreement and assisting his second accused wife, where the Attorney General of the Emirate of Dubai, Counselor Essam, ordered Issa Al-Humaidan, after completing the investigations, filed a criminal case against them and referred them to the Criminal Court, which issued its judgment of conviction and imprisonment for five years in absentia, and the return of the same amount that was embezzled, and deportation from the state.
In another incident, the court ruled that the first defendant be imprisoned for two years and the second defendant for a period of six months and a fine of 300,000 dirhams each, and deported them from the state. dirhams.
The head of the Public Funds Prosecution, Counselor Ismail Madani, explained that the defendants committed the crime of money laundering by transferring financial proceeds amounting to three million and 290 thousand dollars from the account of the company of the first accused with a bank in the United States of America to the account of the third accused with a bank in the country, which resulted From the crime of defrauding the complaining company in the United States of America, with the intention of concealing and disguising the truth of the proceeds and their illegal source.
The first accused, along with others of good faith working for a legal consultancy law firm in the country, committed the crime of money laundering, by transferring financial proceeds in the amount of 685 thousand and 500 dollars from his company's account to the account of the law firm and legal advice at a bank in the country resulting from the crime Defrauding the complaining company in the United States of America, with the intention of concealing and disguising the truth of the proceeds and their illegal source.
fine and confiscation
The Dubai Criminal Court convicted an accused who came to the state through Dubai International Airport on charges of concealing funds in his possession. It issued a ruling to fine him 100,000 dirhams, and confiscate the amount seized in his possession in different currencies equivalent to 1,108,484 dirhams, in accordance with Federal Law No. (20). For the year 2018 issued by the Central Bank of the United Arab Emirates, which determined the upper limit allowed for the possession of those coming to the country or leaving its lands without disclosure.
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