The end of 2020, the British Treasury was ranked as "an attractive site for those who wish to wash the proceeds of crime from abroad.".The document signed by the London Security Minister James Brokenshire, and the economic secretary of the treasury John Glenn indicated that "the UAE has undergone mutual evaluation by the Financial Work Group.".Where this document exposed the secrets of the crime and money laundering world in Abu Dhabi and Dubai, and how they gradually convert them to the "suspicious transactions paradise" and how these networks benefited from the legal environment in the Emirates to do so.
These successive reports, which constantly reveal the extent to which smugglers and adults depend on the UAE to whiten their money and complete the illegal deals put the country once again in a critical position in front of the major investors who may gradually drive confidence in the Emirati business environment in addition to the strikes that it is exposed to after its involvement in the war on Yemen,The most recent of which was the "Hurricane Yemen" process that targeted Dubai and Abu Dhabi airports and a number of vital installations.
The Financial Times indicated in a report that "the United Arab Emirates started with steps to combat dirty money in order to avoid putting it on the international money laundering monitoring list.".
In the report prepared by its correspondent in Dubai, Simon Kerr, and in London Andrew England, they said that "the UAE, which is a financial center in the Middle East, began to increase its capabilities to prevent the flow of dirty money to its territory, according to a senior official.".
It also stated that "in April 2020, the Paris -based financial work group, which has been headquartered in the UAE, which has been a global attraction for illegal funds, warned that it has to work with international theorizers to strengthen the criteria.The newspaper quoted Ahmed Al -Sayegh, the Minister of State at the Ministry of Foreign Affairs, "We took into account the recommendations and started to change," and "We believe that we have made tangible progress and the ceiling that was highly high.".
Regarding the possibility of putting the UAE on the gray list and taking measures against it, the newspaper says that "Western officials admit the progress of the UAE forward, but they exclude to avoid putting it on the list of the financial work group called the gray list, and includes countries like Panama and Zimbabwe.The multiple group will issue its final decision at the end of February..
Al -Sayegh comments, "Whatever the result, we know that we have a business plan.".While the newspaper considers that "part of a special group to combat money laundering, which is chaired by Minister of Foreign Affairs Sheikh Abdullah bin Zayed, and its mission is to improve coordination between the seven Emirates that constitute the UAE federation, and this includes Dubai, which has become the center of international lenders and consultants in deals who provide financial services in the EastMiddle ".
While the United States has quickly described the developing Emirati economy as "a recharge point for illegal drugs and a drug resource crossing".The Dubai tax exemption policy gave a good place to deposit money, especially in the upscale real estate sector, gold and fresh gemstones..But the UAE needs to build a reputation in integrity, because its financial centers are trying to attract the best in the international industry from huge banks to large law firms.
The newspaper states that "last month, the Bings Company, which is considered one of the largest cryptocurrency exchange companies that face a series of global organizational investigations with a contract with the Dubai Trade Zone to help build a" virtual international environmental system for balances ".
The author of the article stresses that "the UAE is on the gray list of the financial work group will not deter financial institutions to establish centers in the Emirates," bankers', according to bankers, according to bankers..However, reputation may increase the price on local banks that manage operations with international banks and complicate issues of commitment to international lenders..
An Emirati official says, "It will not be a big factor, but it is something that we do not want to see," says an Emirati official..In 2020, the Financial Working Group said that the UAE has limited the issues of money launder.In an attempt to avoid the gray list, the tasks group created the useful ownership record for companies so that information can be provided to international parties and within three days, according to Al -Sayegh, "The UAE has signed deportations with 33 countries, including China, India and Britain.The sectors that are exposed to money laundering, such as real estate, were placed under the umbrella of a federal lapse reporting system..
Al -Sayegh continued: "In the past, it was the financial institutions that were required to report the suspected penalties, a request that extended to accountants, auditors, gold merchants, precious stones and real estate brokers.40 has been recorded.000 of them in the system, which greatly increased the reporting of suspected contracts, such as paying large sums to buy real estate."We have thousands of suspected contracts and use them in the investigation," Al -Sayegh said..
The newspaper states that "the number of workers has doubled in the UAE Financial Security Unit.In the period between 2019 and 2021, 94% of the trial cases were convicted in money laundering.Last year, 625 million dollars were confiscated in the efforts to combat money laundering and terrorism..
The Executive Director of Money Laundering, Hamid Al -Zaabi, referred to "international cooperation through the arrest of an Emirati citizen in Britain, 46 years old in Blue, on suspicion of organizing a group of curses to transport 100 million pounds of crime money from Britain to Dubai, and all the funds concerned have been frozenright Now".
"The UAE is a complex judicial jurisdiction, it is a link to many illegal money, but they have a political commitment to deal with it and showed this to the international work group and even if the Emiratis avoid the gray list, I amCertainly they have challenges and other work to do it..
