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UAE busts money laundering network

posted on 26/12/2011: 2443 views


The State Security has foiled a major money laundering crime to smuggle 94,410 kilograms of gold and millions of funds into the country.

The gang were planning to channel the gold into the banking system and then transfer it to a number of Arab and foreign countries but the full-proof inspection measures adopted by the Ministry of Interior at land and air ports had aborted the smuggling attempt and apprehended members of the network.

The ring planned to smuggle the gold and money through oil tankers from an African country to a neighbouring country where two members of the gang would receive them and then deliver them to other members (owners of the tankers) who, in turn, transport and hand the same to other accomplices inside the UAE, but the Police arrested a member of the ring while trying to enter the country through the Ghuweifat border checking point carrying SR 10 million hidden in the truck.

A thorough investigation, monitoring and follow up had provided the Police with important lead and information that led to the detection of the criminal network. - Emirates News Agency, WAM

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