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Journalism of Courage
WASHINGTON, February 27: The United Arab Emirates is giving very little cooperation to India in investigating cases of transaction of the country’s illegal money through Dubai, the United States said today.
“Discussions with Indian law enforcement and regulatory officials have indicated that Dubai, where unregulated foreign exchange businesses have been shown to play a significant role in legal and illicit transactions, provides very little in the way of investigative cooperation,” it said.
Ranking India, Pakistan and itself among the top 58 money-laundering countries, the US said in its annual international narcotics control strategy report, “with the collapse of the Gujral government, it is not clear whether the anti-money laundering legislation that was drafted will be enacted.”
“This legislation is rumoured to call for full criminalisation of money laundering, reporting of all cash transactions over a certain size, reporting of suspicious transactions and the establishment of a centralauthority to process reports and to coordinate anti-money laundering activities,” the report said.
On Pakistan, the report said, “sufficient legislation exists to control and punish public corruption, but these laws are seldom enforced.”
“Given the extremely low salaries paid to law enforcement and judicial personnel, corruption is a constant threat to the integrity of these institutions (in Pakistan),” it said.
However, it said, there was little, if any, information available on money laundering in Pakistan.
