UAE busts money laundering network

Abu Dhabi: State security has foiled a major money laundering crime to smuggle 94,410 kilograms of gold and millions of funds into the country.

A gang was planning to channel the gold into the banking system and then transfer it to a number of Arab and foreign countries but inspection measures adopted by the Ministry of Interior at land and air ports foiled the smuggling attempt. Members of the network were arrested.

The gang planned to smuggle the gold and money through oil tankers from an African country to a neighbouring country where two members of the gang would receive them and then deliver them to other members who, in turn, transport and hand the same to other accomplices inside the UAE.

Police arrested a member of the ring who was trying to enter the country through the Ghuweifat border checkpoint. The suspect was carrying 10 million Saudi riyals (Dh9.7 million) hidden in the truck used in the smuggling attempt.

A thorough investigation, monitoring and follow up provided the police with important lead and information that led to the detection of the criminal network.