Dubai steps up prosecutions for money laundering

Courts in Dubai continue to set strong deterrents against money laundering-related crimes.

The defendants in multiple cases were recently fined over AED 15 million and handed jail terms ranging from 9 months to 8 years.

There have also been confiscations of assets worth AED 306,000.

Dubai Public Prosecution works in close cooperation with law enforcement agencies and local and federal authorities to combat money laundering.

#Dubai Public Prosecution is continuing to combat money laundering and related crimes in cooperation with law enforcement agencies and local and federal authorities.https://t.co/jUg0QYzrPt pic.twitter.com/2jNiqbYdOj

— Dubai Media Office (@DXBMediaOffice) January 13, 2022

In the first case, the Criminal Court sentenced a defendant to three years in prison and imposed a fine of AED 14.76 million.

Counsellor Ismail Ali Madani, Senior Advocate General - Head of Public Funds Prosecution, said the individual laundered an amount of AED 14.76 million by transferring, using and concealing the truth of the proceeds, the location of its origin as well as the manner of its disposition.

The amount was obtained by appropriating public funds related to proceeds from a large number of damaged replacement cards that were misappropriated from the branch of a company specialised in communications where the defendant worked as a sales executive.

In another case, the Criminal Court handed four defendants jail terms ranging from three months to three years, in addition to deportation, and  the payment of an amount equivalent to AED 210,000.

A fifth defendant, a legal person, was fined AED 300,000.

Madani stated that the defendants misappropriated an amount of AED 2.5 million belonging to a foreign woman.

Meanwhile, in a third case, the Dubai Misdemeanours Court sentenced a defendant in absentia and another three to six months in prison for fraud, one year imprisonment for money laundering, confiscation of any funds owned by the three defendants equivalent to a total amount of AED 96,000, and their deportation.

Three others were acquitted.

Counsellor Madani said that the concerted efforts of authorities facilitated the quick gathering of evidence, which in turn enabled officials to take the necessary action to ensure the speedy and accurate completion of investigations as well as the delivery of verdicts.

"This cooperation reflects the high priority placed on combatting money laundering, which is punishable under Federal Law No. 20 of 2018 on Anti-Money Laundering and Combatting the Financing of Terrorism and Financing of Illegal Organizations, as well as other related crimes in this field," he explained.