20th September 2016
A concerted global approach is needed to fight the threat, the central bank governor says Read More
24th August 2016
A Dubai-based investment group is suing the Middle Eastern arm of Deloitte and Touche after the accounting firm failed to flag up money laundering at a now-defunct Lebanese bank. Lebanese Canadian Bank paid over $100 million, or £76 million, in 2011 to settle claims brought by US authorities that it… Read More
23rd August 2016
A Dubai-based investment group is suing the Middle Eastern arm of Deloitte and Touche after the accounting firm failed to flag up money laundering at a now-defunct Lebanese bank. Lebanese Canadian Bank paid over $100 million, or £76 million, in 2011 to settle claims brought by US authorities that it… Read More
2nd August 2016
Massaad fled the country as soon as questions arose concerning his business activities in 2012. Read More
1st August 2016
According to a statement by the ED, Sharma “appeared to have indulged in money laundering” and he was arrested around 12.30 am. Read More
7th June 2016
A new institution has been set up in Dubai with the aim of fighting financial crimes such as fraud, embezzlement and money laundering. Read More
27th May 2016
In an effort to maintain Dubai's status as a global financial and economic hub, a new economic security regulator, the Dubai Economic Security Centre (DESC) has recently been established in the Emirate. Read More
23rd May 2016
Abdul Rahim Mohammad Al Awadi, Executive Director of Anti-Money Laundering and Suspicious Cases Unit, AMLSCU, of the UAE, and Talal Ali Al Sayegh, President of the Kuwait Financial Intelligence Unit and Chairman of National Committee of Combating Money Laundering and Financing of Terrorism have signed a Memorandum of Understanding (MoU) on Sunday following a meeting at the head office of the Central Bank of the UAE in Abu Dhabi to discuss matters of mutual interest. Read More
12th May 2016
The regulator of Dubai’s financial free zone imposed restrictions on Noyan Ahyan, a former trader at an unnamed company at the Dubai International Financial Center, for inflating the value of his trading book by $11 million to conceal losses. The Dubai Financial Services Authority imposed the restrictions after investigations found… Read More
11th May 2016
The Dubai Financial Services Authority (DFSA) has fined two individuals USD 56,000 (AED 205,520) each for failing to act with due skill, care and diligence, which caused an Authorised Firm to breach the DFSA’s Anti-Money Laundering Rules. Read More