Category: MEA

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DEADLINE: Decision on UAE ‘grey listing’ to be announced March 4 as Emirates steps up campaign to avoid likelihood of joining FATF watchlist

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EU removes Iraq from high-risk money laundering list; EU ambassador says this will ‘pave the way for deepening financial cooperation and investment’

FATF

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BREAKING: Dubai’s position as financial capital of the Middle East at risk as FATF considers ‘grey listing’ UAE over AML concerns

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‘It means a lot;’ transparency advocate praises milestone in Seychelles as first major money laundering cases prosecuted

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PANDORA PAPERS: New ICIJ report dubs UAE a ‘secrecy haven’ following careful analysis of shell companies and bad actors within Gulf nation.

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CRYPTO: Israel sets higher standards for virtual asset service providers with new order to take effect immediately

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BREAKING: South Africa’s struggle with ‘state capture’ has shown itself through consistent AML failings, FATF says in latest report

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UAE affirms commitment to money laundering crackdown in latest bid to clean up international image

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Financing the Taliban, how the world’s most infamous terrorist organisation funds itself

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Saudi money laundering gang jailed for 24 years and fined SR 140 Million (€32 Million) in major bust

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UAE and China to share information in bid to crack down on dirty money

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NEWS UPDATE: Alleged top Al Qaeda money launderer is one of 5,000 prisoners released as Taliban take Bagram prison, report says

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Head of Commercial Real Estate Investment Firm Sentenced to 87 Months for $62.8M Investment Fraud Scheme
US Department of Justice
May 20, 2025
A New York man was sentenced yesterday in the Northern District of Georgia to 87 months in prison and ordered to pay over $45 million in restitution for his role in a scheme to defraud investors in connection with commercial real estate investments in Atlanta, Georgia and Miami, Florida.

According to court documents, beginning in May 2022, Elchonon “Elie” Schwartz, 46, of New York City, engaged in a scheme to defraud commercial real estate investors that invested through the crowdfunding investment website, CrowdStreet Marketplace.
Surrey bookkeeper cooked the books and underreported almost $1 million in GST/HST
FINTRAC
May 20, 2025
The Canada Revenue Agency (CRA) announced that Aeddy Leung of Surrey, British Columbia, received a conditional sentence order for two years less a day and two years probation on April 15, 2025, at the Provincial Court of British Columbia (Robson Square). Leung pleaded guilty to willfully evading remittance tax and to making false statements in Goods and Services Tax (GST)/Harmonized Sales Tax (HST) returns.
People smuggler who organised Mediterranean crossings on ‘death trap’ boats threatened to throw migrants in the sea
National Crime Agency
May 20, 2025
A man arrested by the National Crime Agency for masterminding the smuggling of thousands of people across the Mediterranean from north Africa into Europe has been jailed for 25 years. 42-year-old Egyptian national Ahmed Ramadan Mohamad Ebid was detained in Hounslow, west London, in June 2023. Working with law enforcement partners in Italy, the NCA were able to link him to a number of illegal crossings from Libya.