UAE authorities seize more than Dh2b in financial crime crackdown
In January, the office collected Dh286m in cash and another Dh15m in gold
Dubai: UAE authorities have seized more than Dh2 billion in 2021, including Dh1.1 billion in money laundering offences, as they clamped down on hundreds of terror financing and trafficking cases in 2021, a regulatory office said on Monday.
In one case, law enforcement agencies confiscated about Dh175 million in cash and assets, the Executive Office for Anti-Money Laundering and Counter Terrorism Finance said, adding that the suspects were extradited to the US, where the prime suspect pleaded guilty to money laundering.
In January, the executive office for AML/CFT said confiscations included Dh300 million from the proceeds of overseas crimes. The office said Dh286 million in cash and another Dh15 million in gold and other precious metals was also collected.