"Dubai Uncovered" - Dataleak - 191,000 Names Leaked!

[FreedomSearcher]

Dubai Uncovered: Data Leak Exposes How Criminals, Officials, and Sanctioned Politicians Poured Money Into Dubai Real Estate - OCCRP

Thoughts?

 

[Sols]

In terms of business and taxation (the most common topics discussed here), it shouldn't be a problem for anyone on the list provided that they actually live in UAE. It's unfortunate to have one's data leaked, though.

For the rest, this is why you and your structures shouldn't rely on secrecy or non-compliance.

For UAE, they are already on the FATF-GAFI grey list so probably not much changes there. Depending on how severe it is (I haven't read very closely yet), I suppose this might push EU and others to put UAE on similar lists or take other punitive actions that will affect UAE's reputation and possibly finances.

It's also worth taking these kind of articles with a pinch of salt. Journalists often fail to understand the full picture of what they report on. OCCRP and its reporting is competent but not flawless.

 

[KDX]

In terms of business and taxation (the most common topics discussed here), it shouldn't be a problem for anyone on the list provided that they actually live in UAE. It's unfortunate to have one's data leaked, though.

For the rest, this is why you and your structures shouldn't rely on secrecy or non-compliance.

For UAE, they are already on the FATF-GAFI grey list so probably not much changes there. Depending on how severe it is (I haven't read very closely yet), I suppose this might push EU and others to put UAE on similar lists or take other punitive actions that will affect UAE's reputation and possibly finances.

It's also worth taking these kind of articles with a pinch of salt. Journalists often fail to understand the full picture of what they report on. OCCRP and its reporting is competent but not flawless.

Exactly, the whole "NON-CRS" thing and etc will fall apart with time. Better to have a bulletproof setup in place.

 

[Martin Everson]

The first warning shot on the crackdown on Dubai has been fired .

 

[Fred]

Bla bla bla.

"Many of them are residents or legitimate investors. But reporters identified numerous owners of "Dubai" real estate who have been accused or convicted of crimes or are under international sanctions. Others are public officials whose ownership of pricey properties is difficult to square with their known incomes."

Replace Dubai with London, Paris or whatever Metropol - the context of the text remains the same.

Meanwhile in Germany

Berlin prosecutors confiscate 77 properties from mafia – DW – 07/19/2018

Berlin authorities have seized dozens of apartments and houses they claim are owned by one of the city's Arab crime networks. A new law allows police to confiscate property bought with ill-gotten gains.

www.dw.com

OMG how could that happen in such a regulated and high tax environment like Germany .....

 

[KDX]

Bla bla bla.

"Many of them are residents or legitimate investors. But reporters identified numerous owners of "Dubai" real estate who have been accused or convicted of crimes or are under international sanctions. Others are public officials whose ownership of pricey properties is difficult to square with their known incomes."

Replace Dubai with London, Paris or whatever Metropol - the context of the text remains the same.

Meanwhile in Germany

Berlin prosecutors confiscate 77 properties from mafia – DW – 07/19/2018

Berlin authorities have seized dozens of apartments and houses they claim are owned by one of the city's Arab crime networks. A new law allows police to confiscate property bought with ill-gotten gains.

www.dw.com

OMG how could that happen in such a regulated and high tax environment like Germany .....

Yup. Because of a few politicans lets expose thousands of people's private data! Hooray journalism!

 

[JackAlabama]

The first warning shot on the crackdown on Dubai has been fired .

Panama has been facing even worse attacks like gray, black and pink lists, leaks, banking bans and the whole woke shaming for years and still people immigrate there today and the place still stands.

 

[Jerry1911]

Panama has been facing even worse attacks like gray, black and pink lists, leaks, banking bans and the whole woke shaming for years and still people immigrate there today and the place still stands.

Because they are a competitor to the US and EU

 

[troubled soul]

Is Dubai About to Collapse? (Where all the Dubai Propaganda is Coming From?)​

Dubai is not Caribbean country. Dubai Government has worldwide investment. West can not put pressure on them after some point. As weak as Caribbean country. It has real economy.
Let's assume USA put them on black list. Dubai still works and doing business as usual. I do not think this type of banned works any longer. Look at Russia They are still doing business as usual.
Look today Dubai is welcoming Russian even with sanction. This make Dubai real estate price to the another level.
The kind of Dubai property market is growing. It is just unbelievable. Just check the Dubai land department data. Every day transaction making new record. Even its breaking last property boom record pre 2008 level.

this type of organization that create sensation and made huge Newspaper headlines, In reality they are toothless tiger. Nothing going to happen after their so called "exposed".
Which society criminal are not there. Every country has bad and good actor. "Wells Fargo account fraud scandal", what to say about this.

Wells Fargo account fraud scandal - Wikipedia

en.wikipedia.org

It is far more dangerous crime. Whatever the people say Dubai will flourish with ups and down.

 

[Golden Fleece]

Panama has been facing even worse attacks like gray, black and pink lists, leaks, banking bans and the whole woke shaming for years and still people immigrate there today and the place still stands.

But the results desired by the OECD countries were achieved. For the most part, foreigners can forget opening a Panama bank account. For those who do, a full proctology exam is required. Panama banking is a hollow shell of its former glory.

Years ago, I requested and received, from a well-connected Panamanian attorney, a list of the required documents to open a Panama bank account. I just read it and laughed. It was utterly ridiculous. It is probably easier getting top secret clearance in the U.S. than opening a bank account in Panama -- at least as a foreigner.

Look at Russia They are still doing business as usual.

 

[johndunham]

It has real economy.

Wait, what? It is a petro-state. Let's not confuse oil-economies with real economies.