ALBAWABA- The UAE has arrested 387 individuals wanted internationally for money laundering, in collaboration with other countries. This effort resulted in the seizing of assets of over $1 billion.
The UAE's Ministry of Interior disclosed involvement in 521 money laundering cases over two years. A comprehensive approach with a unified system to monitor criminal activities contributed to these achievements, with the system providing evidence of money laundering and investigating underlying offenses in 55% of cases.
The UAE's robust economy attracted substantial investments, fostering financial institutions and solidifying its global economic standing. Its inclusion in the Financial Action Task Force's gray list, alongside countries like Yemen, Syria, and South Sudan, emphasizes international scrutiny of financial transactions.
These countries actively work with FATF to address shortcomings in countering money laundering, terrorist financing, and proliferation financing.
