Featured Dubai

Belgian lawyer guilty in ‘Catch Me if You Can’ Swiss money-laundering case

A Swiss court convicted a Belgian lawyer on Monday of money-laundering and forgery for taking shares now worth more than 60 million Swiss francs ($60 million) from Belgium’s richest family and stashing them in accounts and offshore companies. The unidentified defendant, who denied the charges, was sentenced to 30 months,… Read More

Nine arrested in Yorkshire over Dubai money-smuggling plot

Nine men have been arrested in Yorkshire as part of a money-laundering investigation into a gang who was smuggling money to Dubai in suitcases. Raids were carried out by The National Crime Agency (NCA) in Cleckheaton, Bradford, Dewsbury and Bridlington. The organised crime gang is thought to have smuggled millions… Read More

Phoenix Thoroughbreds owner denies money-laundering allegations

Racing professionals have reacted with shock to the news that the man behind the leading international racing and bloodstock operation, Phoenix Thoroughbreds, Amer Abdulaziz Salman, was recently named by a defendant in a criminal court in the US, who accused him of involvement in a money-laundering operation. The allegation was… Read More
21st November 2019
Ten suspected members of an organised crime group have been arrested on suspicion of flying an estimated £15.5m out of the UK to Dubai hidden in suitcases. The National Crime Agency, whose officers made the arrests in a series of raids across London on Wednesday morning, said the suspects were… Read More
11th November 2019
Twenty years after the controversial demise of one of Nigeria’s last military leaders, Sani Abacha, one sore thumb still aching local and international financial crime investigators is the full extent of his legacy of corruption. In the years since 2002, when the first insight into the depth of corruption during… Read More
4th November 2019
Malta’s financial regulator has lost a bid to stop the shuttered Satabank from releasing funds from the bank account of an offshore company belonging to ‘Dirty Oil’ suspect Gordon Debono. Debono is facing criminal charges related to a €30 million oil-smuggling ring in Catania, Sicily, together with conspirators Darren Debono,… Read More
30th October 2019
Anna Waterhouse was a high-flying lawyer at Deutsche Bank in Dubai. Now she’s unemployed. Amjad Rihan was a partner at the accountancy giant EY’s Dubai office. He also lost his job and hasn’t worked for more than five years. They both say their lives were destroyed after they flagged… Read More
29th October 2019
A major accountancy firm covered up evidence of smuggling and laundering of drug money by an organised crime gang, an investigation has revealed. EY failed to report suspicious activity at one of the world’s largest gold refineries and then altered a compliance report to hide the crime. BBC Panorama discovered… Read More
28th October 2019
As Jho Low was becoming the public face of an embattled Malaysian sovereign wealth fund known as 1MDB, the financier made friends in high places. He dined with Leonardo di Caprio, bought diamonds for supermodel Miranda Kerr, and even financed the film production company that made the “Wolf of Wall… Read More
24th October 2019
Goldman Sachs Group Inc. dismissed a senior banker in the Middle East over compliance violations, according to people with knowledge of the matter, adding to the U.S. bank’s woes in the region. Martin Weber, who’d been with the bank for about 20 years, ran the financing division in the… Read More
4th October 2019
Standard Chartered Plc hired Cedric Lizin to head private banking for southeast and south Asia after executive Srinivas Siripurapu resigned. The change in management comes at a sensitive time for the unit. Bloomberg News reported last month the private bank is in the process of reviewing all of its… Read More
23rd September 2019
Dubai: Employees of over 100 exchange houses in the UAE will undergo training to curb financial crimes in the banking sector, following an agreement with Dubai Police and the UAE’s Foreign Exchange and Remittance Group (FERG). Major General Khalil Ebrahim Al Mansouri, assistant commander-in-chief of criminal investigation affairs, Dubai Police… Read More
19th September 2019
Members of South Africa’s controversial Gupta family have long been implicated in a series of corrupt political connections and illegal deals that have earned them millions, often in government funds. The influence of the family, now reportedly in exile in Dubai, is so all-pervasive that the affair is widely known… Read More