Authorities in the UAE have set up a court in Dubai to focus on combating money laundering.
“The establishment of the court is aimed at further raising the UAE’s and Dubai’s global competitiveness by reinforcing the rule of law and upholding the values of justice and transparency,” the government said.
“The new court will support Dubai’s efforts to tackle financial crimes, including money laundering, as part of the UAE’s wider endeavour to combat crime.”
The court will be part of the court of first instance and the court of appeal within Dubai Courts, whose director-general 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 and achieving its goals through an empowered and sustainable system.
“Reporting money laundering crimes is both an individual and collective responsibility.”
The UAE last year agreed with the Paris-based Financial Action Task Force (FATF) to take stronger action against money laundering and terrorism financing (AML/CFT).
Last week the Abu Dhabi Criminal Court imprisoned 40 men for money laundering and other financial crimes.