Mistakes That Lead You To Participate In The Crime Of Money Laundering

23 January 2022 20:57

Hussam Abdulnabi (Dubai)

Some individuals make simple mistakes (from their point of view) that can expose them to falling under the law for participating in the crime of money laundering, the most important of which is not the monitoring of money transfers to and from their personal bank accounts or accounts. of their companies and rely entirely on employees, partners or accountants to manage those accounts.

Some also accept in “good faith” to make money transfers to their bank account or deposit checks by acquaintances or friends, or to receive money transfers from accounts of companies abroad to transfer them to accounts in the country, and some may authorize others to open bank accounts. in their names or to carry out banking transactions Through electronic channels, they fail to monitor the movement of funds in those accounts, whether deposits or withdrawals and transfers to and from the account.

Another common mistake is attempting to launder money by hiding the money in the possession of arrivals and departures from the country’s airports, and the upper limit legally allowed in the possession of those entering the country. come or leave his lands, to ignore without making it known.

On the other hand, some people imagine that they can commit or participate in fraud, fraud, embezzlement of public money, theft of bank customers’ money or electronic fraud, and then easily hide or disguise the sources of those suspicious funds by washing. them in the purchase of real estate or car number plates. Distinguish or assert the existence of a commercial activity that makes huge profits, ignore the fact that there are supervisory authorities in the country who are alert to money laundering crimes and those who commit it threaten with deterrent fines, as demonstrated by the rulings already made issued in money laundering crimes issued by the state courts.

Seizure of public money The crime of money laundering by hiding and disguising the illegal source of funds is one of the most common crimes, for example for a government official to seize public money and then use those amounts to seize property units or characteristic car number for sale plates, and vehicles, for the purpose of disguising and disguising their illegal source, in addition to obscuring the truth of the rest of the financial proceeds, their location and the manner in which they are disposed of.

In that incident, the Dubai Criminal Court issued a three-year prison sentence for a person who committed this crime, in addition to a fine of 14.7 million dirhams, which is the financial proceeds from the seizure of public money.

= embezzlement of money

By using money seized and embezzled from the bank accounts of other people without their knowledge, the one who does so exposes himself to falling under the law to commit the crime of money laundering The account of a foreign woman on the account of a company outside the state owned by a third accused, in cooperation with other employees who have benefited from the nature of their work and the powers conferred on them in the bank for forgery, the use of official and unofficial papers, the signing and stamping thereof, and the execution of all the procedures followed in banks, while some of them have been omitted in order to obscure the said amount.

Following the incident, the Public Prosecutor ordered that the accused be punished for the embezzlement of funds found in his possession due to his position with willful prejudice to the interests of the entity for which he works, and the money of others. , and falsification of official documents, and the illegal use thereof, as well as the use of the seal of an institution (juristic person) Unfair, which would harm a public and private interest. The prosecution also charged the four accused with the offense of using the image of an unofficial editor and money laundering, in addition to the fifth accused in the same case.

The Dubai Criminal Court has decided to allow the four accused to be deported from the state for periods ranging from three months to three years, and to pay a fine equal to 210,000 dirhams, in addition to the company of the fifth accused. to punish as a juristic person, with a fine of 300,000 dirhams.

= Takeover by fraud

In another case, the Public Prosecutor investigated six defendants who defrauded the money transferred to a woman, amounting to 96,000 dirhams in cash. The Dubai Misdemeanors Court has ruled in absentia for the first accused and in the presence of three accused to jail for a period of six months for the charge of fraud, one year imprisonment for the charge of money laundering, and the confiscation of any money that owned. by the three accused jointly and its value is equal to the amount of 96 thousand dirhams, with their deportation from the state and innocence Three other people in the same case.

= hide money

The Dubai Criminal Court has found an accused guilty of coming to the country through Dubai International Airport for hiding funds in his possession. Issued by the Central Bank of the United Arab Emirates, which sets the upper limit allowed for the possession of those who enter the country or leave its countries without disclosure.

= IT fraud

The Dubai Public Prosecutor has referred eight accused and three companies to the Criminal Court for committing a money laundering crime in the amount of approximately 14 million dirhams to and from various bank accounts in a fraudulent manner and the use of information technology, with the intention of to hide and benefit from it. illegal sources Years with deportation, and the rest of the accused with imprisonment from six months to one year and deportation with a fine of 20,000 dirhams for the sixth and seventh accused 9 million dirhams for the victim company.

The first accused managed to hack the victim’s e-mail, which led to an information leak, so that the accused could gain access to information related to correspondence, bank account data and the money transfer mechanism, thus fraudulently seizing the amount, and the amount in the account of another company belonging to the first accused In addition to the participation of the rest of the accused of the first accused in the same crime of money laundering by the transfer and concealment of the truth of the proceeds of the original crime, where the first accused took advantage of the bank account of the ninth accused with electronic banking services, by making two money transfers to the bank account of the eleventh accused, which is a trading company Security Equipment and Fire Fighting, in which the fifth accused the account of that company, and the second to the bank account of the tenth defendant, a textile trading company, and the second defendant manages the account of that company.

Transfer from outside the country

Good faith may not exempt persons from falling under the law for participating in the commission of a money laundering crime. In this regard, the court sentenced the first accused in the crime of money laundering for a period of two years, and the imprisonment of the second accused for a period of six months, and a fine of 300 000 dirhams for each of them, and their suspension from the State, and the conviction of the company of the second accused in his capacity as a juristic person with a fine of one million dirhams, and the confiscation of the funds seized in the amount of 8.78 million dirhams. The defendants transferred financial proceeds amounting to $ 3.29 million from the account of the company of the first accused at a bank in the United States of America to the account of the third accused at a bank in the country, as a result of the crime of fraud by the holding company in the United States, with the intent to disguise Disguise the reality of the proceeds and their illegal source.

The first accused, along with others (in good faith) who works for a legal consulting firm in the country, also committed the crime of money laundering through financial proceeds in the amount of 685 000 dollars from his company’s account to the account of the law to transfer. firm and legal advice at a bank in the country, which stemmed from The crime of defrauding the complaining company in the United States, with the aim of disguising and obscuring the truth of the proceeds and their illegal source.

= Exploitation of workers

The Public Prosecution has ordered that a gang of nine people be referred to court for committing the crime of money laundering as a result of fraud and appropriation of others’ funds as they target workers, and their names phone calling cards withdrew, bank opened. accounts in their names, withdraw ATM cards and manage these accounts through banking applications on smartphones, then deceive the victims by misleading them by phone calls by claiming to be bank employees claiming to update their data or win a financial prize. In cash and deposited in other accounts belonging to them, and then they send this money out of the country.

= Fraud and dishonesty

In a case involving three defendants, the court delivered its verdict in which the first accused is sentenced to five years in prison and deported from the state, and the second accused is sentenced to three years in prison and deported from the state. dirhams, also in the account of the second accused, who was seized by the Public Prosecution, and the two accused were fined 53.47 million dirhams, the value of the money in question, and the three legal companies are fined 10,000 dirhams fined for each company on charges of fraud, breach of trust, money laundering and forgery in an unofficial document.The three accused of fraud and the seizure of sums of money amounting to (one million dirhams) belonging to the victim and his company, by taking advantage of the victim’s knowledge of his basic profession as an auditor and being a manager and familiar with all the financial balances of the company, he shares ownership with others and is based on the commercial license granted to him has been issued. From the Department of Economic Development in Dubai, rent 23 offices and rent them back.

One of the defendants alleged that their company made a profit in the range of 500,000 dirhams annually through investment rights in the re-letting of those offices.

Each of the three aforementioned defendants also committed another crime of fraud against the same victim with amounts of money of more than seven million euros (34.33 million dirhams) owed to the victim, his company and another foreign company (partners with them in joint commercial operations in the state), and then the defendants laundered Funds by making transfers to the accounts of institutions and then transferring a portion of those amounts in their favor by means of several different checks, whether in the name of unknown persons, or it was written in the name of the first fugitive accused for the purpose of concealing and concealing their illegal source, as well as to conceal the manner of their disposal and movement, in addition to the money laundering of a part of the money. Those funds by using personal accounts, by depositing a few checks, in respect of – the transfer of the amounts to the account of one of the accused, the withdrawal and seizure of the remaining amounts, and the use of part thereof to to buy a piece of land in his favor with his knowledge of it.

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