with the intent to conceal or disguise its source
Imprisonment and a fine is a penalty for transferring illegal funds
Youssef Al-Sharif: “Money laundering is one of the biggest and most dilemmas facing countries.”
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Legal Counsel, Dr. Youssef Al-Sharif, warned against some behaviors that some may facilitate, but their punishment is severe, including the failure of some to abide by the laws and legislation that it established in money transfers, explaining that the Rumors and Cybercrime Law tightened the penalty for transferring illegal funds electronically by imprisonment for a period not exceeding 10 years, and a fine of up to 10 million dirhams.
Al-Sharif stressed, in episodes broadcast by "Emirates Today" on its platforms, to shed light on the newly issued laws, that money laundering is one of the biggest and most dilemmas facing countries, explaining that what is meant by the crime of money laundering is a process of transferring funds obtained from a felony or misdemeanor, and is Transferring them, with the intent of concealing or disguising their illegal source, which means that the offender concealed or disguised the truth of the proceeds, their source, location, method of disposition, movement, ownership or rights related to them, or acquired, possessed or used the proceeds upon receipt, or assisted the perpetrator of the crime The original impunity.
He added that confronting money laundering is one of the means of detecting crime, draining or draining the sources of income of the perpetrator of this crime, and narrowing the circle on him, to reduce his original crimes, except for some who deliberately launder, with the intention of tax evasion, and this is a crime in itself, so the legislator deliberately To criminalize this act in all its forms, in accordance with anti-money laundering laws, and the number of its forms.
Al-Sharif pointed out that the legislator added another form of the money laundering crime, included in the Rumors Law, in Article (30), and decided that without prejudice to the provisions stipulated in the Anti-Money Laundering Law, he shall be punished by imprisonment for a period not exceeding 10 years, and a fine of no less than For 100,000 dirhams, and not more than five million dirhams, and he did not, as usual, stipulate the phrase “or one of these two penalties”, which means that the legislator has stressed on anyone who intentionally came, using an information network, an electronic information system, or any technical means. Information is any of the following actions: transferring, transferring, or depositing illegal funds with the intent to conceal or disguise the illegal source thereof; Illegal knowledge of the illegality of its source.
The same penalty shall be imposed on anyone who establishes, manages or supervises a website, or publishes information or data on the information network, or an information technology means to facilitate or incite the commission of any of the acts stipulated in the first paragraph of this article.
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