Anti-fraud law: Bill proposes two-year jail, fine up to Dh1m | GulfNews.com

Anti-fraud law: Bill proposes two-year jail, fine up to Dh1m | GulfNews.com:



"A federal committee to combat commercial fraud would be set up, members of the Federal National Council (FNC) said on Sunday. The committee will have sweeping powers to close down offending businesses, be they inland or in free zones, and bring to task officials of these firms, once the existing draft bill turns into a law, according to FNC.



“The law would cover fraud in goods, contractual jobs and services offered by businesses across the UAE including free zone companies,” Ali Eisa Al Nuaimi, a member of the Federal National Council, told Gulf News on Sunday.



The committee, which will report to the Ministry of Economy, will work out anti-fraud strategies and policies, study reports of fraud submitted by competent authorities and take decisions on it. Subcommittees with powers to close down offending businesses for up to two weeks; order confiscating of goods and reach settlement with businesses involved or refer cases to the court, will also be created in each emirate."



'via Blog this'