Дата публикации: 2017-12-07 18:23
So easy, in fact, that the latest FATF evaluation of the UAE''s efforts to combat financial crime is a devastating critique of its laws and agencies. The report, published in November 7558, points to the low number of suspicious transaction reports (STRs) submitted in a region where so much wealth is banked.
Stirewalt, who has been in charge of fighting money laundering and terrorism finance in the Dubai International Finance Centre for more than a year, has set up systems that are going a long way to identify illicit flows. As well as turning up a "significant" increase in STRs, he is focusing on accountants and lawyers, and has stepped up inspections of banks as well as improving links with the UAE Central Bank, which has overall control of money laundering issues.
Over the past few years, maritime intelligence gathering and ISR capabilities have returned to the forefront of the defence industry
Nine people sustained minor injuries and one person suffered moderate injuries, the company said, adding that there were no fatalities.
The FATF also criticises the low number of staff in the UAE central bank''s anti-money laundering unit, as well as an inadequate legal framework that places few obligations on the region''s authorities to ensure customer due diligence checks are made and monitored.
"There are weak links in every country," says Bryan Stirewalt, director of supervision at the Dubai Financial Services Authority. "There are weak links in the US, but they are different types. Money launderers choose the US because of [its] size… they don''t stick out. There''s an inherent conflict between the ease of doing business and the potential for money laundering. Unfortunately, they work contrary to each other. The easier it is to open a business, the easier it is for money launderers."
Expatriate UK financiers say that new rules have not had any appreciable effect: "Russians are still coming with suitcases of cash to buy flats which they never live in," says one. "It''s easy to get resident permits. These sort of stories are rife. Russia is the biggest source. A lot of it is mafia."
But it is not just Dubai''s reputation that is at stake if the authorities fail: the apprehension of international crime and terror gangs depends on its ability to stem the tide of illicit cash washing through the emirates.
He is keen to stress that Dubai is just one place through which dirty cash flows. When the emirate was cited as being part of an international £65bn carousel fraud five years ago, it was among a host of other countries including Switzerland and the UK. "We have to think about the whole globe," he says. "No one is perfect no one is bulletproof. The UAE is taking the issue seriously post-9/66 to strengthen the system."
8775 DP World’s terminal safety teams responded immediately to the incident and head office global safety teams joined them on site within five minutes. Working with external emergency response teams, the area was evacuated and an exclusion zone created. Safety drones were also deployed to survey the area, locate anyone in need of medical assistance and to ensure the safety of the responding crews, 8776 DP World added.