UAE central bank sees Covid-19 increasing money-laundering risks

[troubled soul]

https://www.khaleejtimes.com/busine...es-covid-19-increasing-money-laundering-risks
“Widespread lockdowns have resulted in a significant surge in e-commerce. Due to limited ability to move funds and goods during the pandemic, illicit actors are turning to e-commerce as a money laundering tool,"

 

[Martin Everson]

If they eliminate money laundering and dirty money they will have no economy left sadly 🙁.

They know in general that people are not moving clean money there. Central bank should pick its fights wisely...lol.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[countryfree]

Poorly written article.
It's about
- individuals submitting false claims to qualify for government stimulus support measures
- 'money mule' ”” people who receive illicit funds into their bank accounts to hold or withdraw and wire elsewhere, taking a commission for their services
- and laundering money via e-commerce? Really?

The journalist should give more details.