UAE intensifies efforts to combat money laundering and terrorism financing crimes, and strengthen deterrent penalties for perpetrators

UAE intensifies efforts to combat money laundering and terrorism financing crimes, and strengthen deterrent penalties for perpetrators.

UAE extends strong support for global efforts to combat money laundering crimes in compliance with the standards of the International Financial Action Task Force.

Counselor Ismail Ali Madani: “Unifying the roles of the competent government agencies and enhancing cooperation among them supports the state’s efforts to address money laundering crimes.”

Prison sentences and fines issued against 20 defendants and seven legal companies.

– Total money confiscated exceeds AED22.6 million while fines surpass AED60 million.

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Source: riskscreen.com