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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)

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