Expert Lawyer in Money Laundering Cases in UAE

In the UAE, money laundering is a process that occurs in three distinct phases. 

• The first phase of the process is the ‘washing’ of the property and possessions as well as the source with the aim of disguising them. 
• And integration, where the laundered property is introduced back to the legitimate market.
• In the UAE, Abu Dhabi, Dubai, and Sharjah, money laundering range from easy to complex strategies. They include:
• Structuring: This involves taking small sums of cash to deposit, then buy bearer instruments, which include money order.
• Smuggling: This generally involves smuggling cash to a foreign authority and depositing with an offshore bank, which has greater secrecy or enforces money laundering only slightly.
• Cash Companies: Companies that are cash-intensive can receive criminally sourced and legitimate cash together, maintaining that they are all valid. In doing this, there is no variable costs with the company, and finding sales-price disparities is very difficult.
• Commerce based laundering: Invoices are under or overvalued to disguise illegal cash movements.
• Shell businesses and trusts: Shell businesses and trusts don’t reveal the true identity of cash owners.
• Bank Capture: Money laundering offenders purchase a controlling stake in financial institutions with poor money laundering controls and transfer money without examination.
• Casinos: A money launderer can play in the casino, cash in on chips, and require payment. He then deposits it as a check maintaining it as game winnings.
• Real Estate: Illegal funds can be used to purchase real estate, then sold so that profits from the sale may look valid to outsiders. The cost of the property is falsified and the seller receives a portion of criminal profits for agreeing to your contract.