Middle East

Featured Middle East

UAE, UK to conduct exercise to toughen border controls against illicit finance

ABU DHABI, 31th October, 2021 (WAM) — The UAE Federal Authority for Identity, Citizenship, Customs & Port Security recently partnered with the United Kingdom’s National Economic Crime Centre (NECC) to run an exercise designed to combat the smuggling of significant volumes of cash and gold from UK airports. Read more… Read More

UAE intensifies efforts to combat money laundering and terrorism financing crimes, and strengthen deterrent penalties for perpetrators

– UAE intensifies efforts to combat money laundering and terrorism financing crimes, and strengthen deterrent penalties for perpetrators – UAE extends strong support for global efforts to combat money laundering crimes in compliance with the standards of the International Financial Action Task Force – Counselor Ismail Ali Madani: “Unifying the… Read More

Cambridge University halts £400m deal with UAE over Pegasus spyware claims

The University of Cambridge has broken off talks with the United Arab Emirates over a record £400m collaboration after claims about the Gulf state’s use of controversial Pegasus hacking software, the university’s vice-chancellor has said. By Richard Adams, Georgia Goble and Nick Bartlett, The Guardian, 14 October 2021 Read more… Read More
13th October 2021
The UAE is developing a new law that will further regulate fundraising and donations for charity in the country to tackle money laundering. The legislation – or the ‘Fundraising Regulatory Law’ – will apply to non-government organizations soliciting funds in the country, according to a senior government official. By Jennifer… Read More
13th October 2021
Iraq says it has captured the jihadist group Islamic State’s financial chief in an operation outside its borders. Sami Jasim al-Jaburi was arrested in a “complex external operation” by the Iraqi National Intelligence Service, Prime Minister Mustafa al-Kadhimi tweeted, without specifying a location. He added that Mr Jasim, also known… Read More
4th October 2021
A massive leak of financial documents was published by several major news organizations on Sunday that allegedly tie world leaders to secret stores of wealth, including King Abdullah of Jordan, Czech Prime Minister Andrej Babis and associates of Russian President Vladimir Putin. The dump of more than 11.9 million records,… Read More
22nd September 2021
Iran wants to resume nuclear talks with world powers that would lead to removal of U.S. sanctions, Iranian President Ebrahim Raisi told the annual U.N. General Assembly on Tuesday as negotiations about reinstating a 2015 nuclear pact have stalled. “The Islamic Republic considers the useful talks whose ultimate outcome is… Read More
20th September 2021
The United Arab Emirates central bank sees increased risks of illicit financial flows emerging from the COVID-19 pandemic, including money-laundering and terrorism financing, it said in a report published on Sunday. The use of unlicensed money service providers for money laundering has increased during the coronavirus crisis last year, the… Read More
13th September 2021
The Paris appeals court on Thursday backed a guilty verdict against Syrian President Bashar al-Assad’s uncle for misappropriating public funds in Syria, laundering the spoils and building a vast property portfolio in France with ill-gotten gains. The court confirmed last year’s four-year prison sentence against 84-year-old Rifaat al-Assad, which he… Read More
10th September 2021
Whether it was turning a blind eye or doing business with blacklisted entities, Swiss firms’ due diligence practices were put to the test amid the crackdown on terrorism that followed the September 11 terrorist attacks.  Almost two decades after planes brought down New York’s World Trade Center towers, a… Read More
8th September 2021
A United Arab Emirates committee tasked with fighting money laundering has endorsed a regulatory framework for virtual assets, the Gulf state’s central bank said on Wednesday. The National Committee for Combating Money-Laundering and Financing of Terrorism and Illegal Organisations has “announced the adoption of a regulatory framework for virtual assets… Read More
8th September 2021
The ruling by the Court of Cassation marks a major setback for Lafarge, which is accused of paying nearly 13 million euros ($15.3 million) to jihadist groups including the Islamic State (IS) to keep its cement factory in northern Syria running through the early years of… Read More
8th September 2021
By Seth Robbins, InSight Crime, 7 September 2021 Insight Crime — A court in Cabo Verde has approved the extradition to the United States of Colombian businessman Álex Saab, who may hold key information on alleged money laundering schemes involving Venezuelan President Nicolás Maduro and other top… Read More