The Dubai government’s media office announced on Sunday (22) that the Dubai Courts have established a specialized money laundering court to thwart financial crimes. The new court was set up within the Court of First Instance and the Court of Appeal.
Through this specialized court, the Dubai Courts hope to increase “the UAE’s and Dubai’s global competitiveness by reinforcing the rule of law and upholding the values of justice and transparency.”
This money laundering court ties into a string of initiatives aimed at reducing financial crimes and follows the recent establishment of the Executive Office of the Anti-Money Laundering & Countering the Financing of Terrorism (AML/CFT). The AML/CFT was created by Federal Decree-law No. (20) of 2018, which set forth the criteria for money laundering and terrorism convictions.
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