UAE's new measures to combat money laundering

Abu Dhabi - Special courts and committees to investigate and handle money laundering cases in the Northern Emirates.

Ismail Sebugwaawo

Published: Sun 21 Feb 2021, 5:35 PM

Last updated: Tue 23 Nov 2021, 9:06 AM

In an effort to combat money laundering crimes in the UAE, the Ministry of Justice has introduced a set of new measures and guidelines. These include establishing special courts and committees to investigate and handle money laundering cases in the Northern Emirates.

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Dr Tariq Ahmed Al Rashed, Attorney-General of Ajman Public Prosecution and member of the National Committee for Combating Money Laundering and the Financing of Terrorism and Illegal Organisations, said: “Among the tangible steps taken by the ministry in the recent period is the issuance of ministerial decisions by Sultan Bin Saeed Al Badi, Minister for Justice, to establish special courts to look into money laundering crimes in ... Sharjah, Ajman, Umm Al Quwain and Fujairah; and to establish a specialist committee to manage frozen and confiscated assets."

Dr Tariq, who is also chairman of the Committee for inspection and Follow-up of Money Laundering Cases at the Office of the Attorney General, said the Ministry of Justice is working to enhance the effectiveness of investigations and trials in money laundering cases as well as international judicial cooperation.

This came as he presided over a training course on the effectiveness of trials in money laundering criminal cases.

He noted that Counsel Dr. Hamad Saif Al Shamsi, State Attorney-General, had earlier issued a resolution to establish a committee of 22 prosecutors to examine and follow up on money laundering cases.

Guidelines for judges and public prosecutors on such cases were also issued.

In a major action taken in October 2020, the Ministry of Justice had suspended the licences of 200 law firms in the UAE for one month for not following prescribed procedures to combat money laundering. The ministry said it had also taken legal action against non-compliant lawyers.

Authorities from the ministry said the penalties against the law firms included administrative fines ranging from Dh50,000 to Dh5 million.

ismail@khaleejtimes.com