UAE to establish special body to tackle economic crimes, money laundering

The UAE will set up federal prosecution offices, dedicated to tackle money laundering and economic crimes, in a bid to develop the country's judicial system while continuing to boost financial stability.

The Federal Judicial Council, chaired by Abdullah Sultan bin Awad Al Nuaimi, approved the proposal by the Attorney General.

It is part of the transformative projects being worked on by the Ministry of Justice and Federal Judicial Council to improve the professional and legal performance in the UAE. 

Establishing the entities signifies an important first step in investigating money laundering and many other economic crimes including corporate crimes, bankruptcy, regulation of competition, financial markets, intellectual property and trademarks, or those that violate the UAE's financial rights, such as customs evasion crimes.

The new offices will help strengthen and to protect the UAE’s national economy, giving international investors more confidence in the UAE’s business environment, and encouraging them to bring their businesses to the country.