FATF menace

[djaheim]

Hi folks, it seems like the UAE is under spotlight from FATF and this will call for more regulation in the UAE. I think its time to think ahead if you have any interests there because we know whats coming. Demand for more and more documentation/ transparency. Please see below.

UAE doing too little to stem money laundering and terrorist finance: watchdog

The United Arab Emirates is not doing enough to prevent money laundering despite recent progress, and causing concerns about its ability to combat financing of terrorism, the global dirty money monitoring group said on Thursday.

www.reuters.com

 

[JohnLocke]

Thank you for sharing, it is a matter of time before they need to adjust and follow the same guidelines as all other countries.

 

[djaheim]

Thank you for sharing, it is a matter of time before they need to adjust and follow the same guidelines as all other countries.

Absolutely, what is annoying this tendency to throw broad based blanket regulations that serve only one purpose, to collect more and more information in the guise of fighting financial crime, terrorist financing etc etc. How many of us are really into that kind of stuff but we are all going to be subjected to this. Its absolutely harrowing!!

 

[ih8socialism]

Absolutely, what is annoying this tendency to throw broad based blanket regulations that serve only one purpose, to collect more and more information in the guise of fighting financial crime, terrorist financing etc etc. How many of us are really into that kind of stuff but we are all going to be subjected to this. Its absolutely harrowing!!

Its all to harass us small fishes which are not big enough and have 9figures+. Even nowadays plenty of the big towers in UAE are funded by money from shady sources but no one gives a f*ck.
Also I think an issue is the big hype Dubai got in the recent years especially with all these shady MLM and Network Marketing people lol

 

[djaheim]

Its all to harass us small fishes which are not big enough and have 9figures+. Even nowadays plenty of the big towers in UAE are funded by money from shady sources but no one gives a f*ck.
Also I think an issue is the big hype Dubai got in the recent years especially with all these shady MLM and Network Marketing people lol

Watchdog calls on UAE to improve to eliminate money laundering

The FATF has found that there is a high risk that criminals will try to launder money or finance ‘terrorism’ through the UAE.

www.aljazeera.com

 

[Martin Everson]

Yup the crack down on UAE has arrived finally. Those who claim they live there but do not spend any time there but remain in Europe better think twice .

 

[djaheim]

Yup the crack down on UAE has arrived finally. Those who claim they live there but do not spend any time there but remain in Europe better think twice .

Absolutely, UAE will now have to tow the line because the threat of being "grey listed" alongside Pakistan, syria and Yemen is real. They will not want to be anywhere near that group. So i expect them to crack the whip ASAP

 

[ih8socialism]

Yup the crack down on UAE has arrived finally. Those who claim they live there but do not spend any time there but remain in Europe better think twice .

Somehow I am a little bit happy about that, maybe finally all the shady creatures in UAE who are there for a quick bight will be gone too in the near future. I don't know how many times I got approached by weirdos in UAE with the most ridiculous stuff. One of the main reasons I left dubai since the amount of idiots there got unbearable

 

[Martin Everson]

So i expect them to crack the whip ASAP

Luckily my Citibank account was closed as they no longer accept non-residents. I would tell anyone to move your money out of Dubai ASAP!!! Don't wait a single minute. The Leader of Dubai Sheikh Mohammed bin Rashid Al Maktoum is a very brutal authoritarian guy - ask his wife and daughter . He literally wakes up in the morning and changes the law if he feels like.

The last money laundering concern that happen in 2015 he literally woke up and said all non-resident Nigerians accounts are closed with no explanation given. Was only supposed to affect Nigerian PEP's etc but banks just closed account for all of them....lol.

 

[djaheim]

Its all to harass us small fishes which are not big enough and have 9figures+. Even nowadays plenty of the big towers in UAE are funded by money from shady sources but no one gives a f*ck.
Also I think an issue is the big hype Dubai got in the recent years especially with all these shady MLM and Network Marketing people lol

There is a lot of Russia money in UAE skyscrappers and real estate in general

 

[djaheim]

Somehow I am a little bit happy about that, maybe finally all the shady creatures in UAE who are there for a quick bight will be gone too in the near future. I don't know how many times I got approached by weirdos in UAE with the most ridiculous stuff. One of the main reasons I left dubai since the amount of idiots there got unbearable

What stuff are we talking about here? lol, i'm moving whatever i have there pronto! its time to close the shop.

 

[Nicholas Van Orton]

It pretty much depends on what type of structure you've got there and what your involvement within the country is. As @Martin Everson nicely sums up:

Yup the crack down on UAE has arrived finally. Those who claim they live there but do not spend any time there but remain in Europe better think twice .

His notorious love affair with the ruler of Dubai is legendary, I smell some unpaid poker debts there , lol... anyway, there are 7 of them (Dubai being just the fanciest (and the laundriest) of the lot, not the overall best I'd say)...and, again, it all boils down to how you plan to use it to your advantage without simply appearing (in their eyes) to use them as your offshore milking cow. In short, yes, I believe the days of exploiting the 24hr-transit every 6 months while claiming residency there may well be over.

NVO

 

[ih8socialism]

What stuff are we talking about here? lol, i'm moving whatever i have there pronto! its time to close the shop.

- MLM, Networking marketing and ponzi schemes
- Launder money for god knows who (My personal favorite is: Launder 250M $ for ex iraqi general with cryptos)
- Scammers in general
- People pitching me their fantastic business idea for 10 times in a row lol
- Hey mate can you do this and that for free for me

Maybe its just my personal feeling but I'm around in UAE and GCC since early 2015 and move there in 2016. And for me personally it feels that the amount of weirdos, scammers and idiots just increased dramatically in the last 1-2 years especially since plenty of these instagram coaching and dropshipping morons started to move there and putting it up in their instagram lmao.

But again, just my personal feeling.