The UAE has fined six companies Dh3.2 million ($871,000) for breaching provisions of the Anti-Money Laundering and Counter Terrorism Financing law as the Arab world’s second-largest economy continues to rein in illegal financial activity. The companies were fined following inspections by the Ministry of Economy to monitor the operations of designated non-financial businesses or professions ...

Money Laundering Cases: A British hedge fund trader has been arrested by Dubai police for for dividend tax fraud worth $1.7 billion, Dubai Media Office announced on Friday. Sanjay Shah, 52, the alleged mastermind behind the scam, was wanted in Denmark for the past seven years. Brigadier Jamal Al Jallaf, director of the General Department ...