UAE prosecutors seek maximum sentence for gang guilty of money laundering

Sharjah investigation revealed the gang had forged bank seals

People have been warned to be careful not to reveal their banking details. PA

Nine gang members will be sentenced by a court after they were found guilty of stealing funds and money laundering.

UAE prosecutors said the gang called victims and pretended to be bank employees who wanted to update their data or tell them they had won a financial prize.

The ruse would allow them to obtain the necessary information to access the victims' bank accounts via banking apps and transfer money to other bank accounts they had opened for this purpose. The money would ultimately be sent out of the country.

The investigation by Sharjah Public Prosecution revealed that the gang had forged some bank seals.

Prosecutors would ask the court to apply the maximum penalty against the accused, news agency Wam reported.

The Federal Decree on Anti-Money Laundering and Countering the Financing of Terrorism stipulates that anyone found guilty of money laundering will receive a temporary prison sentence and a fine of no less than Dh300,000 and no more than Dh10 million.

Prosecutors urged people to be cautious and not to respond to fraudsters seeking financial information over the phone, or by any other means of communication. Any attempts to do so should be reported to the police.

Updated: January 20, 2022, 3:00 AM