Dubai Authorities Dismantle Two Major International Money-Laundering Operations
Dubai’s law enforcement agencies have successfully uncovered and dismantled two major international money-laundering networks, leading to multiple arrests and exposing the illicit transfer of funds and cryptocurrencies, according to officials.
In the first case, prosecutors have charged an Emirati citizen, 21 British nationals, two US citizens, a Czech national, and two companies owned by the Emirati individual with possessing illegal funds totaling Dh461 million ($125 million). The charges also include forgery of official documents and their misuse.
Investigations revealed that the funds were being funneled from the UK to the UAE through two companies acting as fronts. The suspects allegedly forged documents and misrepresented the funds as proceeds from legitimate trade in the UK. These findings were confirmed by the Dubai Government Media Office.
In a separate operation, the Dubai Economic Security Centre, in collaboration with the Public Funds Prosecution, disrupted a sophisticated crime network accused of laundering Dh180 million through cryptocurrency.
This case led to the prosecution of 30 individuals and three companies, referred to Dubai Courts’ Money Laundering Court. Authorities allege that the network operated through unlicensed cryptocurrency intermediaries in both Dubai and the UK.
The investigation identified two Indian nationals and a UK citizen as the masterminds behind the scheme. The illicit proceeds reportedly stemmed from activities such as drug trafficking, fraud, and tax evasion in Britain. Officials reported the arrest of key suspects and the freezing of several bank accounts linked to these illegal activities.
Dubai’s decisive action demonstrates its unwavering commitment to combatting financial crimes and safeguarding the integrity of its economy.
