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UAE to Open Prosecution Offices for Money Laundering

  • Publish date: Monday، 31 July 2023
UAE to Open Prosecution Offices for Money Laundering

The UAE plans to establish federal prosecution officers dedicated to money laundering and other economic crimes.

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The managing bodies of these offices are being set up to improve the country's financial stability and economic growth. 

The new offices will investigate money laundering and other economic crimes, which include corporate crimes, regulation of competition, customs evasion offences, and much more. 

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Since 2020, the UAE authorities have deported 43 criminals who were involved in money laundering. 

Out of the 43 criminals, 10 were terrorists or were financing terrorist activities. 

Authorities in the country have also issued fines amounting to more than AED 115 million in the first quarter of 2023 for money laundering and financing of terrorism. 

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