UAE

Reset Filter

Jurisdictions

Industry Sectors

Predicate Crimes

Enforcement

Regulatory Update

18th August 2020

Malta: Government official accused of money laundering

Malta’s consul to Shanghai was charged with money laundering on Sunday after police discovered a large sum of money hidden in his home. Aldo Cutajar, 55, was remanded in custody after being arraigned in court by the police’s Economic Crimes Unit along with his wife Isabel. The police told the… Read More

7th August 2020

Dubai court tells bank to pay customer Dh4.6 million after his account got hacked

A Dubai commercial court order for a bank to repay a customer Dh4.5 million has been upheld by the Dubai Court of Appeals. The amount is worth of balance, siphoned off from his account. In October last year, the Dubai Commercial Court found the bank responsible for the losses incurred… Read More

6th August 2020

Hezbollah operatives seen behind spike in drug trafficking, analysts say

At first glance, the shipping trailers that arrived at the Italian port of Salerno appeared to contain only paper, rolled up on giant industrial spools as tall as a man. But when an investigator sliced into one of the rolls with an electric saw, he unleashed an avalanche of little… Read More

30th July 2020

Probe agency files money laundering case against Sanjay Bhandari

The Enforcement Directorate has filed a money laundering case against on run defence consultant Sanjay Bhandari to probe kickbacks worth USD 4.99 million allegedly received by him from South Korean major Samsung Engineering Co Ltd (SECL) in 2009, officials said on Monday. Bhandari’s firm was paid by SECL, in violation… Read More

27th July 2020

Goldman Sachs settles 1MDB dispute with Malaysia for $3.9 Billion

Goldman Sachs Group Inc. will pay $2.5 billion to the government of Malaysia for its role in the alleged theft of billions of dollars from a government investment fund, bringing the Wall Street bank close to ending one of the worst scandals in its history. Goldman also guaranteed… Read More

27th July 2020

Wirecard probe in Philippines focuses on two bankers who may have forged documents

Philippine investigators say they have identified dozens of people and entities of interest in their probe into Wirecard AG, and are focusing on two bank employees who may have facilitated a multinational accounting scandal at the insolvent German payments company. Wirecard had claimed some $2.1 billion in… Read More

24th July 2020

ED registers money laundering complaint in Kerala gold smuggling case

The Enforcement Directorate (ED) has filed a money laundering complaint in connection with the Kerala gold smuggling case, officials said on Wednesday. They said the agency has registered an Enforcement Case Information Report (ECIR), equivalent of a police FIR, after studying the NIA FIR filed earlier. The ED case has… Read More

23rd July 2020

2 more ex-Wirecard managers arrested, ex-CEO back in custody

AP — Two more former executives at bankrupt German payment company Wirecard were arrested on Wednesday in the fraud scandal that brought down the one-time tech star and its former CEO was taken back into custody after the case against him was expanded, prosecutors said. The former Wirecard managers are… Read More

20th July 2020

France, Germany, Italy threaten sanctions over arms for Libya

The leaders of France, Germany and Italy on Saturday threatened for the first time to use sanctions against countries that continued to violate a United Nations arms embargo on Libya. French President Emmanuel Macron, German Chancellor Angela Merkel and Italian Prime Minister Giuseppe Conte urged “all foreign actors to end… Read More

17th July 2020

U.S. Justice Department Files First Case Against a Company for Violating North Korea Sanctions

A unit of a U.K. tobacco firm agreed to pay a $666,000 penalty to resolve criminal charges that it facilitated sales to North Korea, in the first such case against a company for violating U.S. sanctions on Pyongyang. The United Arab Emirates-based Essentra FZE Co. Ltd., which is a subsidiary… Read More

Must Read

British Virgin Islands at a crossroads as outgoing governor decries corruption

Hong Kong police obtain financial records of arrested democracy activists

MPs handed ‘dossier’ on HSBC links

Insurers ‘funding organised crime’ by paying ransomware claims

Biden administration suspends some sanctions on Yemen rebels