Public Prosecution explains concept of money laundering crime in UAE

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Image used for illustrative purposes only.

Gulf today, Staff reporter

The Public Prosecutor’s Office of the United Arab Emirates (PP) on Monday explained in a post on its social media accounts the crime of money laundering.

The UAE Public Prosecutor’s Office stated that Article 2 of Federal Decree Law No. 20 of 2018 on combating the offenses of money laundering, financing of terrorism and financing of illegitimate organizations, and its amendments, states that anyone who willfully commits any of the following acts knowing that the money was derived from an original crime is deemed to have committed the crime of money laundering:

– The transfer or transport of the product or the undertaking of any process relating thereto to conceal and disguise the illegitimate source thereof,

– Concealment or disguise of the truth, source, location, mode of disposal, movement or ownership of the product or the rights attached thereto,

– The gain or acquisition of the product as soon as it is collected,

– Provide assistance to the original perpetrator to escape punishment.

The prosecution also added that, according to the law, the crime of money laundering is an independent crime and that the punishment of the perpetrator of the original crime will not prevent the punishment of this person for the crime of money laundering. ‘silver.

It is not conditional on obtaining a conviction for committing the original crime in order to prove the illegitimate source of the proceeds, the UAE public prosecutor added.

This post is part of the Public Ministry’s ongoing efforts to promote legal literacy among community members and educate them about the country’s latest legislation.

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