A specialist court has been created in Dubai to tackle money laundering and other financial crimes.
The new court is being set up within the Court of First Instance and Court of Appeal, as part of the emirate's attempts to enhance the integrity of its financial system. Its creation comes after the United Arab Emirates (UAE) created the Executive Office of the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) to manage the country's anti-money laundering strategy.
Director General of Dubai Courts, Taresh Al Mansouri, said: "This move will enable our stakeholders to raise their efficiency in effectively implementing the national AML/CFT Strategy and National Action Plan.
"Reporting money laundering crimes is both an individual and collective responsibility. Society plays a critical role in safeguarding economic and social security and strengthening the efforts of various stakeholders in responding to such crimes."
The UAE has made a number of recent efforts to tackle financial crime. Last November, the Ministry of Economy created an anti-money laundering department, while a court was also established in Abu Dhabi to tackle money laundering and tax evasion.
UAE's central bank is issuing guidelines to help companies and individuals determine what money laundering risks they face.
Dubai, it seems, is determined to meet international anti-money laundering standards and combat financial crime. The opening of the specialist court is a positive action and a further example of the nationwide attempts being made to ensure that the UAE is not viewed as a safe haven for the assets of those making illegal gains.
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