Making sure crime does not pay

Tanya Gibbs

Journal of Money Laundering Control, 2018, vol. 21, issue 4, 555-566

Abstract: Purpose - This paper aims to analyse a new piece of Dubai legislation, Dubai Law No. (4) of 2016: The Dubai Economic Security Centre (DESC) Law, in respect of its role and impact on economic crime mitigation in the emirate and in the country as a whole. Design/methodology/approach - The jurisdiction’s various risks and vulnerabilities were examined to determine weaknesses and gaps in the current legislative and regulatory framework. Findings - The findings highlight that despite numerous legislative efforts targeting economic crime, bringing economic criminals to justice has remained an issue in Dubai. Creation of the Dubai Economic Security Centre (DESC) may mark a significant change in that emirate’s approach to tackling this issue. Research limitations/implications - Though the DESC itself is (as of this writing) still in a formative state, it is clearly intended to be a comprehensive response to expedite and streamline investigative processes and mitigate the multi-jurisdictional problems with which law enforcement has hitherto contended. Practical implications - The DESC is also intended to serve not only as an informational clearinghouse but also as an organisational entity with significant roles in law enforcement and even legislation. Social implications - Regardless of its ambitious and promising results, the effectiveness of its organisational structure and performance is yet to be determined. Originality/value - This research can be beneficial for the government officials in charge of establishment and launch of the DESC, as well as for future research as it points to its potential ambiguities and misinterpretations.

Keywords: Economic crime; Dubai Economic Security Centre (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:jmlc-10-2017-0060

DOI: 10.1108/JMLC-10-2017-0060

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