Print Article

Dubai and money laundering are there any connections – example 6 =   IMDB


More than US$4 billion is estimated to have been embezzled from 1 Malaysia Development Berhad (1MDB), a Malaysian sovereign wealth fund that was meant to boost the country's economy through strategic investments.

Through a network of shell companies and layers of transactions, billions of dollars of development money were allegedly spent on luxury real estate in New York, paintings and gifts for celebrities, among other things.

At the centre of the scandal is the former Prime Minister of Malaysia, Najib Razak, currently on trial over his alleged role in the affair.

Malaysian anti-corruption officials have released audio recordings in which Razak allegedly asks the crown prince of the UAE, Sheikh Mohammed bin Zayed al-Nahyan, to help fabricate a loan agreement to cover up the embezzlement of funds from 1 MDB.

In a place where money laundering and corruption appears to be part of the business model, it sadly comes as a little surprise for high-level political figures to appear in such scandals.

Source - A recent report into attempts by the United Arab Emirates to combat money laundering and terrorist financing is damning, to say the least. -


The Team

Meet the team of industry experts behind Comsure

Find out more

Latest News

Keep up to date with the very latest news from Comsure

Find out more


View our latest imagery from our news and work

Find out more


Think we can help you and your business? Chat to us today

Get In Touch

News Disclaimer

As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email