The Filipino Times

Policy & Legal Updates

UAE Police Arrest 33 Suspects in Dh8.8 Billion Cyber Money Laundering Scheme

Sharjah Police have dismantled four interconnected international criminal networks and arrested 33 suspects from 12 nationalities linked to an Dh8.8 billion ($2.4 billion) money laundering scheme. The operation, codenamed 'End of the Battle', secured over Dh65 billion in assets belonging to more than 30 companies worldwide and seized over Dh200 million in funds. Authorities reported the networks used artificial intelligence tools for phishing and laundered illicit proceeds through virtual assets, bank accounts, and luxury goods.

Policy & Legal Updates

UAE Ministry of Interior Warns Against Fraudulent Investment and Trading Schemes

The UAE Ministry of Interior has warned the public and investors against fraudulent investment and trading schemes that promise high returns. Authorities advised individuals to verify platform licensing before transferring funds or cryptocurrency. The ministry emphasized that legitimate investment entities do not guarantee profits or pressure users into urgent payments.