“The UAE has initiated investigations into Ghafoor’s activities in 2020 after receiving an official request to this effect from the US Embassy in Abu Dhabi on behalf of the US Department of Justice, US Federal Bureau of Investigation, Criminal Investigation Department, and the Internal Revenue Service,” the embassy said.
The Court ordered Ghafoor to pay Dhs5 million ($1.36 million) fine, while the Dhs18 million in his account to be confiscated.
The UAE Public Prosecution (PP), on Monday explained through a post published on its social media accounts about the crime of money laundering.
In addition, the Egyptian Anti-Money Laundering and Terrorist Financing Unit presented ways to advance the national system and significant steps taken by the Arab Republic of Egypt.
The airlines’ crews will distribute the customs’ declaration forms during the flights among all passengers, irrespective of their nationality. The declaration forms will be deposited at the customs` counters before the immigration desks at all airports.
The court also announced fines ranging from Dhs200,000 to Dhs10,000,000 for each accused, with confiscation of all funds seized from the accused, as well as confiscation of their bank balances, real estate, cars, computers, mobile phones, watches and jewellery.
Each company was subject to a fine of Dhs500,000, in addition to confiscating the funds of both companies, amounting to Dhs39 million, from seized bank accounts, and both companies were closed down.
The Financial Action Task Force (FATF), set up by the G7 group of advanced economies to protect the global financial system, said Pakistan had substantially completed its two action plans, covering 34 items, as part of a bid to get off the list on which it has been since 2018.
PM Shahbaz congratulated Foreign Minister Bilawal on completion of action plans set forth by the FATF to get out of the grey list. Shahbaz said that the entire foreign ministry team deserves appreciation.
The UAE continues to implement an array of sophisticated and significant actions to combat financial crime and strengthen the effectiveness of the AML/CFT framework in line with the National Strategy for AML/CFT and the National Action Plan of the UAE.