Wednesday 13 June 2012

UAE Central Bank sees rise in suspicious transactions | Reuters

Financial firms in the United Arab Emirates have reported a 25 percent increase in "suspicious" transactions in the first five months of this year as the Gulf state steps up vigilance against money laundering, a senior central bank official said on Wednesday.

At least 1221 suspicious transactions were reported as of the end May compared to 978 transactions reported during the same period last year, figures provided by the central bank showed.

In 2011, suspicious transactions reported totaled 2576 compared to 2781 in 2010, t he central bank figures showed.

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