UAE charges 15 members of tax gang over $29m fraud

The UAE has charged 15 individuals accused of tax crimes and money laundering. Dr. Hamad Saif Al Shamsi, Attorney-General of the UAE, ordered the referral of 15 individuals of various Arab nationalities to the criminal court, including some who are in custody and...

UAE launches digital platform to modernize finance sector

By adopting cutting-edge digital solutions, the platform provides an integrated mechanism for verifying customer identities and ensuring compliance with regulations. This enhanced transparency in financial transactions, facilitated by the platform’s accurate and...

DXB: Former Banker Fined Dh3.6 Million for AML Violations

Former private banker Peter Georgiou has been fined $980,020 (about Dh3.6 million) for misleading conduct and his involvement in the violations of his former employer, Mirabaud (Middle East) Limited (MMEL), said the Dubai Financial Services Authority (DFSA). Georgiou,...

The United Arab Emirates (UAE) has taken a decisive step in strengthening its financial defenses with the introduction of a new Federal Decree-Law aimed at enhancing the country’s approach to anti-money laundering (AML) and combating the financing of...