Dubai Police address 500 money-laundering cases as it investigates $1.1bn financing claims
money laundering
Latest in money laundering
Financial Action Task Force
MENA financial crime watchdog launches landmark 5-point anti-money laundering strategy
The announcement comes as regional financial centres face mounting pressure to demonstrate their commitment to combating illicit financial flows
AB Majlis
AB Majlis podcast: HSBC flags new era of financial crime as UAE fraud victims lose $2,500 per scam
The region’s unique combination of HNWIs, transient populations, and proximity to sanctioned nations makes it particularly vulnerable to various forms of financial crime, says HSBC’s Collin Lobo
anti money laundering
Dubai authorities bust two major international money laundering networks
Total value of crimes worth over $223 million; An Emirati and 53 foreign nationals produced in court for money laundering, and forgery of documents
Adani Group
Hindenburg hits Adani Group with fresh allegation: $310mn frozen funds in Swiss bank accounts
The Adani Group, however, dismissed Hindenburg’s latest allegations as baseless
anti-money laundering
UAE announces new anti-money laundering strategy for 2024-2027 as it fights cyber threats, virtual assets risks and financial crime
UAE announces 2024-27 National Strategy for Anti-Money Laundering, Countering the Financing of Terrorism and Proliferation Financing
anti-money laundering
UAE’s new anti-money laundering and terrorism law: What it means for business and the economy
How the UAE’s new law is redefining global financial security
AI
AI real estate consultant launched; Pakistan updates visa rules; travel ban rule change; UAE and Saudi law updates – 10 things you missed this week
UAE and Saudi law changes, Pakistan changes visa rules, Dubai real estate developments and more of the top stories this week
anti money laundering
UAE announces new anti-money laundering and terrorism law
UAE introduces Federal Decree-Law on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations
Blockchain
Russian-linked exchange drives $30bn peak in $100bn crypto laundering surge: Report
Previous research by Chainalysis found that a significant portion of cryptocurrency transactions involving Garantex were linked to illicit activities or high-risk services between 2019 and 2021
Fraud
Indian-American ex-billionaire gets 7.5-year sentence for defrauding investors Goldman, Google
Shah, the co-founder of Outcome Health, which provided ads on TVs in doctors’ offices, was reportedly convicted of more than a dozen fraud and money laundering charges by a federal jury last year
Central Bank of Lebanon
Germany drops arrest warrant for embattled ex-Lebanon central bank chief Riad Salameh
The world’s longest-serving central bank chief has been accused of corruption, money laundering, and other crimes
FATF
Why coming off the FATF grey list means stronger trade for the UAE
The removal opens doors to new opportunities and increased investor confidence
AI
AB Majlis podcast: Inside the $2 trillion economy of dirty money – In conversation with Eastnets CEO Hazem Mulhim
Criminals are continuously leveraging everything from ransomware to deepfakes to move dirty money, Eastnets CEO says in AB Majlis podcast interview
anti money laundering
UAE praised for anti-money laundering efforts after completing 15-point FATF action plan and being removed from ‘grey list’
UAE completed all 15 recommendations set out by the Financial Action Task Force
anti-money laundering
A new dawn for real estate as UAE prepares to exit FATF Grey List
Dubai’s real estate market could reap a bigger boom
anti-money laundering
Embattled ex-Binance boss CZ: How the former CEO went from Mcdonald’s to billion-dollar crypto empire
Changpeng Zhao steps down as Binance CEO following historic $4.3 billion settlement with US Department of Justice