FinCEN Files: UAE central bank failed to prevent sanctions evasion
The United Arab Emirates' central bank failed to act on warnings about a local firm which was helping Iran to evade sanctions, the BBC has found./ Leaked documents show Dubai-based Gunes General Trading processed $142m (£110m) in suspicious transactions through the UAE financial system in 2011 and 2012./ The activity was flagged by a British bank, but the firm was able to continue using local financial institutions./ In 2016, the US said it was involved in a major sanctions-busting scheme./ The Central Bank of the UAE did not respond to the ...
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