Dubai authorities have dismantled two major international money laundering networks, exposing illicit operations involving a total of Dh641 million.

First Operation: Funds Smuggled from the UK to the UAE

The Dubai Public Prosecution has referred an Emirati, 21 British nationals, two Americans, a Czech national, and two companies owned by the Emirati to the Criminal Court of First Instance. Investigations revealed that the network smuggled funds from the UK into the UAE, using two local companies as fronts to conceal the illegal origins of the money.

The perpetrators allegedly forged documents and bypassed customs by falsely declaring the funds as legitimate trade proceeds from the UK. This operation underscores the sophisticated methods used to mask the illicit flow of funds.

Second Operation: Cryptocurrency-Fueled Laundering

In a separate breakthrough, Dubai authorities dismantled an organized crime network that used cryptocurrencies to launder Dh180 million. The Dubai Public Prosecution has referred 30 individuals and three companies linked to the network to the Money Laundering Court.

Investigations revealed that the network laundered cash in the UK through unlicensed cryptocurrency intermediaries operating in both the UK and Dubai. The accused, including two Indian nationals and one British citizen, orchestrated the scheme involving proceeds from drug trafficking, fraud, and tax evasion in the UK.

The meticulously planned operation led to the arrest of the suspects and the freezing of bank accounts used for laundering activities.

Collaboration Across Agencies

These successful operations were executed with coordinated efforts from the Public Funds Prosecution in Dubai, Dubai Economic Security Centre, Dubai Police’s Anti-Money Laundering Unit, the UAE Financial Intelligence Unit, Dubai Customs, and the International Cooperation Department at the UAE Ministry of Justice.

The swift actions highlight Dubai’s commitment to combating financial crimes and maintaining the integrity of its financial systems.