Money Laundering
The UAE is vulnerable to money laundering due to its position as a major commercial driver in the region. The UAE leadership has taken several measures for combating organized crime. A law was enacted in January 2002 for the purpose of curbing money laundering. However, despite government efforts to combat money laundering, regulation of banking is still developing.
Read more about this topic: Crime In The United Arab Emirates
Famous quotes containing the word money:
“Americans living in Latin American countries are often more snobbish than the Latins themselves. The typical American has quite a bit of money by Latin American standards, and he rarely sees a countryman who doesn’t. An American businessman who would think nothing of being seen in a sport shirt on the streets of his home town will be shocked and offended at a suggestion that he appear in Rio de Janeiro, for instance, in anything but a coat and tie.”
—Hunter S. Thompson (b. 1939)