Technical Staff
July 10, 2020
The Carnegie Endowment for International Peace, a prominent Washington DC think tank, published a remarkable report on July 7, 2020, entitled “Dubai’s Role in Facilitating Corruption and Global Illicit Financial Flows.” It is a significant report due to both exceptional content and timing. [note] Read and downward the report on https://carnegieendowment.org/2020/07/07/dubai-s-role-in-facilitating-corruption-and-global-illicit-financial-flows-pub-82180 Accessed on July 10, 2020[/note]
The report says that
Corrupt and criminal actors from around the world operate through or from Dubai.
[note]Ibid[/note]
This is not the first time Dubai is accused of being a major facilitator or player of global corruption and money laundering. In January 2019, Forbes published an article entitled “Dubai Has Become A “Money Laundering Paradise” Says Anti-Corruption Group” [note] Read more on https://www.forbes.com/sites/dominicdudley/2019/01/29/dubai-has-become-a-money-laundering-paradise-says-anti-corruption-group/#312500c9315e Accessed on July 10, 2020 [/note] In December 2013, Eva Joly, a former magistrate known for exposing high-level political and business corruption in France, said officials should demand that Dubai give back the money stolen in Russia’s Magnitsky case and from Kabul Bank.[note] Read more on https://news.trust.org/item/20131213143038-zrhlb/?source=hptop Accessed on July 10, 2020[/note]
“I cannot understand why the OECD blacklist is empty. Kabul Bank is the most important bank scandal ever, affecting 13 percent of the GDP of the country… and half of it is in Dubai,” she said at a roundtable discussion on the impact of the OECD’s Anti-Bribery Convention. [note]Ibid[/note]
“We have the account numbers and the names of the persons and the international community is sitting by,” Joly added. [note]Ibid[/note]
We believe the blind-eye strategies the U.S. and the international community used in the past with the UAE are not effective anymore. It seems the U.S., U.K. and the E.U. cannot sustain the consequences of Dubai’s role in global corruption, money laundering, and financing terrorism.
Note: The photo of Dubai we used in this blog post is by Ryan Miglinczy on Unsplash
