{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Report reveals laundering through Dubai property market' data-url='/boclips/videos/5c54d7b2d8eafeecae20e00b' data-video-url='/boclips/videos/5c54d7b2d8eafeecae20e00b' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nReport reveals laundering through Dubai property market\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eLEADIN:              A new report describes Dubai's real-estate market as a haven for war profiteers, terror financiers and drug traffickers sanctioned by the US in recent years.               The report released Tuesday identifies...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eLEADIN:\u003cbr/\u003e              A new report describes Dubai's real-estate market as a haven for war profiteers, terror financiers and drug traffickers sanctioned by the US in recent years. \u003cbr/\u003e              The report released Tuesday identifies around 100 million US dollars in suspicious purchases of apartments and villas across the city of skyscrapers. \u003cbr/\u003e              Officials in Dubai said they could not comment on the report released by by the Washington-based Center for Advanced Defense Studies.\u003cbr/\u003e              STORYLINE:\u003cbr/\u003e              War profiteers, terror financiers and drug traffickers sanctioned by the US in recent years have used Dubai's real-estate market as a haven for their assets, a new report released today (Tuesday) alleges.\u003cbr/\u003e              The report by the Washington-based Centre for Advanced Defence Studies (C4ADS), relying on leaked property data from the city-state, offers evidence to support the long-whispered rumours about Dubai's real-estate boom. \u003cbr/\u003e              It identifies around 100 million dollars in suspicious purchases of apartments and villas across the city of skyscrapers in the United Arab Emirates, where foreign ownership fuels construction that now outpaces local demand.\u003cbr/\u003e              \"It's not entirely surprising; Dubai opened up its real estate market in 2002 and a lot of foreign money rushed in and that's what's helped fuel this construction boom that saw the world's tallest building and all sorts of architectural wonders spring up,\" says Associated Press journalist Jon Gambrell.\u003cbr/\u003e              The government-run Dubai Media Office said it could not comment on the report.\u003cbr/\u003e              For its part, C4ADS said Dubai has a \"high-end luxury real estate market and lax regulatory environment, prizing secrecy and anonymity above all else.\" \u003cbr/\u003e              That comes as the US already warns that Dubai's economic free zones and trade in gold and diamonds poses a risk.\u003cbr/\u003e              \"The permissive nature of this environment has global security implications far beyond the sands of the UAE,\" the centre said in its report. \u003cbr/\u003e              \"In an interconnected global economy with low barriers impeding the movement of funds, a single point of weakness in the regulatory system can empower and enable a range of global illicit actors.\"\u003cbr/\u003e              The properties in question include million-dollar villas on the fronds of the man-made Palm Jumeirah archipelago to an apartment in the Burj Khalifa, the world's tallest building. \u003cbr/\u003e              Others appear to be one-bedroom apartments in more-affordable neighbourhoods in Dubai, the UAE's biggest city.\u003cbr/\u003e              Among the highest-profile individuals named in the report is Rami Makhlouf, a cousin of embattled Syrian President Bashar Assad and one of that country's wealthiest businessmen. \u003cbr/\u003e              The US has sanctioned Makhlouf, who owns the largest mobile phone carrier Syriatel, for using \"intimidation and his close ties to the Assad regime to obtain improper financial advantages at the expense of ordinary Syrians.\"\u003cbr/\u003e              Makhlouf and his brother, also sanctioned by the US, own real estate on the Palm Jumeirah, according to the report. \u003cbr/\u003e              They also have ties to two UAE-based free-zone companies. \u003cbr/\u003e              The UAE, a federation of seven sheikhdoms led from oil-rich Abu Dhabi, has opposed Assad in his country's years long war.\u003cbr/\u003e              The UAE also opposes Hezbollah, the Lebanese political party and militia group backed by Iran. \u003cbr/\u003e              C4ADS' report also identified at least one property directly linked to Lebanese businessmen Kamel and Issam Amhaz, who the US sanctioned in 2014 for helping Hezbollah \"covertly purchase sophisticated electronics\" for military drones. \u003cbr/\u003e              The report identified another nearly 70 million dollars in Dubai properties owned by two other shareholders in Amhaz's sanctioned firms.\u003cbr/\u003e              Separately, the report identified some 21 million dollars in real estate still held by individuals associated with the Altaf Khanani money laundering organisation, a Pakistani ring that aided drug traffickers and Islamic extremists, like al-Qaida, through its currency exchange houses.\u003cbr/\u003e              \"The US State Department in its annual narcotics report has praised the UAE in the past for doing more to combat money laundering and also foreign terrorism funding through the Emirate. However, it has warned that Dubai needs to do more and not necessarily just because of the threat from terror financing or from war profiteering in elsewhere,\" says Gambrell.\u003cbr/\u003e              Dubai, an Arabian Peninsula entrepot, has long been a favourite port of call for those skirting the law. \u003cbr/\u003e              Gold smuggling into India served as one of the emirate's most lucrative trades for the decades after the pearling industry collapsed. \u003cbr/\u003e              Guns, drugs and other illicit cargo also moved through the city-state.\u003cbr/\u003e              Over time, however, Dubai itself became a haven. \u003cbr/\u003e              The emirate's decision in 2002 to allow foreign ownership of so-called \"freehold\" properties drew a rapid construction boom that attracted developers from across the world, including President Donald Trump, whose name is on two golf course projects and villas.\u003cbr/\u003e              Dubai's easily flipped luxury properties offered an opportunity for those wanting to park money they otherwise couldn't spend. \u003cbr/\u003e              Unlike in the US, where property records are public, Dubai does not offer an accessible database of all its transactions, instead requiring specific details only individual buyers and sellers would have. \u003cbr/\u003e              C4ADS said it relied in part on \"private UAE data compiled by real estate and property professionals\" offered by a confidential source for its reporting.\u003cbr/\u003e              The US State Department as recently as this year issued a warning about money laundering in the UAE in its annual International Narcotics Control Strategy Report, noting the country's money-exchange shops can allow for \"bulk cash smuggling.\" \u003cbr/\u003e              The UAE's economic free zones, real estate sector and its trade in gold and diamonds also pose risks.\u003cbr/\u003e              \"The UAE has demonstrated both a willingness and capability to take action against illicit financial actors if those actors pose a direct national security threat or present a reputational risk to the UAE's role as the leading regional financial hub,\" the State Department said.  \u003cbr/\u003e              \"However, the UAE needs to continue increasing the resources devoted to investigating, prosecuting and disrupting money laundering.\"\u003cbr/\u003e            \u003cbr/\u003e\u003cbr/\u003e              Dubai - 8 June 2018\u003cbr/\u003e              1. SOUNDBITE (English) Jon Gambrell, The Associated Press: ++PART OVERLAID WITH SHOTS 2-13++\u003cbr/\u003e              \"A report by a Washington based think-tank has found some 100 million dollars in suspected money laundering property buys in Dubai. It's not entirely surprising; Dubai opened up its real estate market in 2002 and a lot of foreign money rushed in and that's what's helped fuel this construction boom that saw the world's tallest building and all sorts of architectural wonders spring up. The report by the Centre for Advanced Defence Studies identified different individuals who had been previously sanctioned by the US Treasury. It then used what it described as a leaked database of Dubai property records dating from 2016 to then crosscheck against those US Treasury sanctions and what they found was a series of individuals who have been previously sanctioned by the US who openly owned properties in Dubai. One of the biggest names from the report was Rami Makhlouf. Rami Makhlouf is a cousin of Syria's embattled president Bashar Al-Assad. And Mr. Makhlouf, according to the report, owns properties on the Palm Jumeirah - the big man-made archipelago that looks like a palm tree out in the Persian Gulf, off Dubai. The report also found that two Lebanese businessmen also own property in Dubai and it traced other business associates that they had in sanctioned companies to tens of millions of dollars of property in Dubai licensed in their name. Now for the idea about money laundering is that you have to take money that you can't otherwise spend in the wider market and then put it into a market and wash it into another investment, then sell that investment to then recoup your money. The reason why Dubai works so well is because there is such a high end luxury boom here. There's apartments, there's desert villas, there's hotel apartments, there's whole hotels that you can actually purchase here and then use as an investment to then launder that money. The US State Department in its annual narcotics report has praised the UAE in the past for doing more to combat money laundering and also foreign terrorism funding through the Emirate. However, it has warned that Dubai needs to do more and not necessarily just because of the threat from terror financing or from war profiteering in elsewhere. The State Department had said that it's also a reputational risk for Dubai, which advertises itself as a hub for international business. The Associated Press and the report's authors have reached out to the Emirati government and there's been no response so far.\"\u003cbr/\u003e              2. Various of Dubai Marina\u003cbr/\u003e              3. Gambrell at desk, scrolling through report\u003cbr/\u003e              4. Over the shoulder angle of Gambrell scrolling through cover page of report\u003cbr/\u003e              5. Close of screen with key finding of the report highlighted on screen\u003cbr/\u003e              6. Various of construction on the Palm Jumeirah\u003cbr/\u003e              7. Palm trees on Palm Jumeirah\u003cbr/\u003e              8. Report highlighted to show details of two Lebanese brothers identified as money launderers\u003cbr/\u003e              9. Wide of palm-tree lined street\u003cbr/\u003e              10. Crane with DAMAC building in background\u003cbr/\u003e              11. Various of residential towers in Dubai Marina\u003cbr/\u003e              12. Zoom in to report's key finding\u003cbr/\u003e              13. 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