Dubai Customs organizes seminar on money laundering

The seminar was attended by representatives from the Federal Customs, Dubai Police, the Naturalization and Residency Administration and the Department of Economic Development.

Mr. Ahmed Butti Ahmed, Dubai Customs Director General in his speech at the opening of the seminar welcomed the participants and stressed on the common thrive of the British Customs and Dubai Customs to raise the awareness on the criminal cash smuggling and methods used by organized groups to smuggle cash across borders.

"Studies indicate that money laundry represents 5% of worldwide GDP or more than US$1 trillion annually according to the reports of the International Monetary Fund and the Interpol," he said.

"Our first line of defence in front of any criminal activities is represented by our brave customs inspectors present at different point of entries and who monitor resident and non-resident individuals, upon entry or exit from the UAE and these individuals are bound to declare at the Customs amounts in cash or travel checks.

These inspectors instantly report to the Responsible Authority any doubtful cases or evidences of money laundry," he stated.

The seminar included a series of lectures that were presented by the Darin Marwood the Senior Intelligence Manager at the British National Financial Intelligence Unit based in Dover and Bernie Crossey, the Senior Officer at the criminal Investigation Directorate, Strategy and Planning at HM Revenue and Customs.

The lectures focused on cash smuggling from the intelligence point of view and included also methods of inspection and search.

The presentations provided the UK overview of cash smuggling, including current intelligence trends and profiles for smuggling methods as well as the methods to target and interdict cash couriers.

The use of cash monthly reports and their distribution to Detection and Investigation Department in addition to the intelligence trends alerts and the methods used by the British Customs in targeting and profiling money smuggling were among the issues tackled by the lectures.

The presentations explained the current trends of money laundering methods and trends to highlight to law enforcement agencies and the banking sector methods for money to be laundered they should watch out for. This will include cash deposits, property investments, banking and financial services, high value small size goods traders, gambling, pre-paid cards and internet banking.

The presentations also discussed the issue of UK and EU legislations, criminal money laundering and asset recovery agencies.

Yousuf Ozair Moubarak, the senior manager of the intervention department at Dubai Customs presented to the lecturers at the end of the workshop souvenir trophies and certificates of acknowledgment.