Identifier
Created
Classification
Origin
07ABUDHABI383
2007-03-08 06:47:00
CONFIDENTIAL
Embassy Abu Dhabi
Cable title:  

UAE BREAKS-UP DRUG MONEY LAUNDERING RING

Tags:  SNAR KCRM EFIN CASC AE 
pdf how-to read a cable
VZCZCXRO9365
PP RUEHDE RUEHDIR
DE RUEHAD #0383 0670647
ZNY CCCCC ZZH
P 080647Z MAR 07 ZDK
FM AMEMBASSY ABU DHABI
TO RUEHC/SECSTATE WASHDC PRIORITY 8475
INFO RUEHDE/AMCONSUL DUBAI PRIORITY 6902
RUEATRS/DEPT OF TREASURY WASHINGTON DC PRIORITY
RUEHZM/GULF COOPERATION COUNCIL COLLECTIVE
C O N F I D E N T I A L ABU DHABI 000383 

SIPDIS

SIPDIS

DEPARTMENT FOR NEA/ARP, INL, EEB/ESC/TFS
TREASURY FOR ACURTIS

E.O. 12958: DECL: 03/06/2017
TAGS: SNAR KCRM EFIN CASC AE
SUBJECT: UAE BREAKS-UP DRUG MONEY LAUNDERING RING

REF: DUBAI 135

Classified By: Ambassador Michele J. Sison for reasons 1.4 (b &d).

C O N F I D E N T I A L ABU DHABI 000383

SIPDIS

SIPDIS

DEPARTMENT FOR NEA/ARP, INL, EEB/ESC/TFS
TREASURY FOR ACURTIS

E.O. 12958: DECL: 03/06/2017
TAGS: SNAR KCRM EFIN CASC AE
SUBJECT: UAE BREAKS-UP DRUG MONEY LAUNDERING RING

REF: DUBAI 135

Classified By: Ambassador Michele J. Sison for reasons 1.4 (b &d).


1. (C) In a move widely reported by the UAE press on
February 26, Dubai police broke up an international money
laundering ring using the UAE's financial system. Ahmed
Al-Qamzi, Head of the Central Bank's Anti Money Laundering
and Suspicious Cases Unit's International Division told
econchief that -- contrary to the original press reports --
the financial institutions involved were regulated money
changers not Hawala dealers. Al-Qamzi said that the
predicate crime was drugs and that the UAE would be
confiscating the assets. Al-Qamzi stated that the Central
Bank and the Dubai police had kept the investigation,
"Operation Cancer ", quiet for almost two years (Note. The
primary target of Operation Cancer is Naresh Jain Patel.
Endnote). Al-Qamzi stated that the Central Bank would now be
reaching out internationally to try and develop more
information. In response to Econchief's question about the
original source of the information for the investigation,
Al-Qamzi stated that it was primarily "intelligence"
information as well as suspicious transaction reporting.
Al-Qamzi also confirmed that an AMCIT of Lebanese origin had
been arrested and that the Dubai police had been in contact
with the Consulate General about the case (Reftel).


2. (U) According to press reports, the Central Bank ordered
financial institutions to freeze the assets of and prevent
any financial transfers in the name of the main suspects, the
companies involved, and "those who assisted them." Dubai
police arrested "a number" of people, shut several offices,
and confiscated "large sums" of money. Dubai police stated
that nine companies were involved in the money laundering as
well as Asian, European, and American nationals.


3. (C) Comment: This is an encouraging example of UAE
interagency cooperation. The UAE has also worked
cooperatively with DEA and the British Serious Organized
Crime Agency (SOCA) liaisons in Dubai on this case. Although
the UAE has had previous money laundering prosecutions, this
is one of the few that we have seen making it into the press.
End Comment.
SISON