Khiarallah Advocates & Legal Consultants
UAE Law & Legal Articles Blog

UAE Enhances Battle Against Money Laundering

Committing or attempting to commit money laundering: Whoever commits any of the following acts, despite being fully aware that such funds are derived from an offence or a misdemeanor, shall be deemed as a perpetrator of money laundering:      1. If converts, transfers, deposits, saves, invests, exchanges or manages any proceeds, with intent to conceal or disguise the illicit origin thereof.      2. If conceals or disguises the true nature, origin, location, way of disposition, movement, rights related to any proceeds or ownership thereof.      3. If acquires, possesses or uses such proceeds. Money laundering as a criminal offence … Continue reading UAE Enhances Battle Against Money Laundering

How to Deal with Scams Legally in UAE

Fraud is defined as taking or gaining from another, property, money, vouchers or anything of value by deception or lying or trickery which is supported by verbal means or written documents, causing the victim to rely on the same to willingly handover or something of value from himself to the person committing the fraud. Scammers cheat people out of their money. People in Dubai and nearby emirates were conned out of about AED 780,000 over during 2018 by conmen who convinced them that they had won large cash prizes. COMMON SCAMS: 1. Cold calling: The practice of cold calling itself … Continue reading How to Deal with Scams Legally in UAE