Money laundering cases in the UAE have jumped 78 per cent this year, a senior Dubai Police official said.
General Khalil Al Mansouri, Director of Investigation Department at Dubai Police, said 16 cases of money laundering were referred to the competent authorities in 2010 against nearly nine cases last year – an increase of 78 per cent.
In some cases, verdicts have been pronounced while others are still pending before the courts. He pointed out that such cases take considerable time and effort in the collection of evidence.
In another development, UAE Central Bank and Dubai Police signed a memorandum of understanding to exchange information, expertise and training to counter money laundering and terror financing.
The MoU was signed by Sultan Al Suwaidi, Governor of the Central Bank and Lieutenant General Dahi Khalfan Tamim, Commander General of Dubai Police, at a ceremony held at the General Headquarters of Dubai Police.(C) emirates24|7
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