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:
“I confidently predict the collapse of capitalism and the beginning of history. Something will go wrong in the machinery that converts money into money, the banking system will collapse totally, and we will be left having to barter to stay alive. Those who can dig in their garden will have a better chance than the rest. I’ll be all right; I’ve got a few veg.”
—Margaret Drabble (b. 1939)