Two significant international money laundering networks totaling Dhs641 million have been successfully dismantled by Dubai authorities working with important federal authorities. The Criminal Court of First Instance at Dubai Courts received referrals from the Dubai Public Prosecution against an Emirati citizen, two Americans, a Czech national, twenty-one British nationals, and two businesses owned by the Emirati national. The people and organizations are accused of forging official documents and using them and having Dhs461 million in illicit funds. Investigations showed that the two local businesses were used as fronts to conceal the money’s illegal origins as it was trafficked from the UK to the UAE. By presenting the money as proceeds from lawful trade, the network evaded customs inspections and used fake documents.
Another successful investigation saw the Dubai Economic Security Center and the Public Funds Prosecution in Dubai working together to destroy an international organized crime network that was using cryptocurrency to launder Dhs180 million.
The case, which involves a network of 30 people and three entities, has been referred to Dubai Courts’ Money Laundering Court by the Dubai Public Prosecution. The network worked in the UK and Dubai, using cryptocurrency to carry out intricate money laundering schemes totaling Dhs180 million. According to investigations, the network used unlicensed cryptocurrency middlemen in the UK and Dubai to launder money there.
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