ACAMS moneylaundering.com recently spoke with officials from the FBI's kleptocracy squad about the unparalleled cooperation and inevitable difficulties in following the money.
Dubai's economic downturn has made the emirate more cooperative in enforcing international sanctions but has also given the emirate less incentive to crack down hard on regional money laundering, say analysts.
Officials are concerned that Iran may have "sleeper cell" agents in the Arabian Peninsula conducting financial transactions and preparing potential retaliatory action for the Persian country, according to a professor at the Monterey Institute of International Studies.
A New York City councilman is charged with laundering money stolen from public funds, a prominent car dealership owner is accused of bilking cash from Chrysler and the UAE sees a 48 percent jump in suspicious transaction reports, in this week's news roundup.
Africa is fast becoming one of the world's largest hubs for smuggling cocaine, heroin and prescription drugs from South America and Asia into Europe and the United States, according to a United Nations watchdog group.
The United Arab Emirates should immediately begin work on a national plan to better protect its economy from money launderers and terrorist financiers, an intergovernmental watchdog said Friday.
The United Arab Emirates, a key oil producer situated between Iraq and Iran, has failed to adopt a coherent national strategy against money laundering and terrorist financing, despite the country's rapid influx of foreign capital over the past decade, the IMF said Friday.