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UAE freezes suspicious accounts

posted on 07/03/2005: 1502 views

The UAE has frozen 17 suspicious bank accounts totalling Dh4.95 million and reiterated its fight against terrorism and terrorist financing, the Central Bank said yesterday. "The total number of suspicious transactions and cases received by the Central Bank's Anti-Money Laundering and Suspicious Cases Unit (AMLSCU) so far has been 2,384.

"The total amount frozen as of date stands at US$1.348 million (Dh4.952 million) representing the balances in 17 accounts," Abdul Rahim Mohammad Al Awadi, assistant executive director and head of the AMLSCU, told delegates on the final day of the joint seminar of the GCC-European Union on combating terrorism. "Of the cases reviewed, 2,273 cases were investigated of which 27 were referred to the public prosecutor for legal action.

"The public prosecutor issued orders to confiscate proceeds relating to money laundering in 12 cases, in addition to four cases relating to the customs department." Al Awadi said nine cases were referred to the courts for final judgment. (The Gulf News)


26 January 2017 UAE Anti Money Laundering and Suspicious Cases Unit signs cooperation MoU with Egyptian counterpart
16 June 2013 NAMLC discusses report on of legal, regulatory, supervisory and corporate framework enhancement for anti-money laundering
30 May 2013 UAE to tighten disclosure law
21 March 2013 National Anti-Money Laundering Committee holds first meet for 2013
15 July 2012 UAE steps up fight vs. money-laundering

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