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No Hawala operators involved in money laundering case

posted on 04/03/2007: 1804 views



The Central Bank Governor Sultan Nasser Al Suwaidi said yesterday that no Hawala operators were involved in the money laundering racket, recently arrested by Dubai Police. "The arrested gang members are not licensed Hawala operators," Al Suweidi said in a press conference in Abu Dhabi yesterday.



He declined to give details about the amounts in question or whether any one from the banking sector is involved in the case, saying that investigations were still on.



Last week, Dubaii Police launched a crackdown on some companies suspected of being engaged in money laundering activities. The UAE Central Bank has issued instructions to banks and money exchangers to freeze the accounts of the main suspects and nine firms allegedly involved in the scam. "Money laundering is a global problem that should be addressed globally," Al Suweidi said. (Emirates News Agency, WAM)

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