Transferring or depositing money into unknown or unverified accounts in the UAE could lead to serious legal repercussions, potentially resulting in imprisonment for up to 10 years.
The UAE Public Prosecution has cautioned the public that using personal ID to transfer money to someone else's account could result in money laundering, for which the penalty is imprisonment for up to 10 years and a fine of no less than AED 100,000 (approximately BD 10,000).
The Public Prosecution also issued a warning to the public against this illegal behaviour.
Transferring illicit funds or concealing their source both constitute money laundering under UAE laws.
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