Q: I had recently befriended on social media a person from Hong Kong who told me is on a visit to Dubai to help her uncle who is a veteran in crypto & crypto futures trading! During our communication, she told me her uncle & his friends have developed a strategy where they can predict the movement of prices at certain times which she regularly used to show her profits made! She encouraged me to open a Binance Ac & a Trading Ac in https://www.metatraders6.site/wap/#/ (This site had an HTTPS & secure site certified by Cloudflare Inc) thus started trading 1st with smaller & then larger amounts! I recently got doubt & tried to withdraw $3K money USDT (I have $ 15K USDT & visible in site) BUT couldn't. Now they are asking to deposit AED 23K for opening membership! I'm now sure it's fraud BUT don't know how to withdraw. I also don't know where the website is located (CloudFlare can give the details as it's a secure site BUT need to approach legally). Any help?

Q: I was a victim of a crypto-scam and have tried to file a police report on multiple occasions. However, they continue to reject my complaint. Can this be filed by a legal representative? Perhaps they will take it more seriously.

Q: What is the best way to recover money from a cryptocurrency exchange scam? The platform I'm using to trade cryptocurrency is based in Singapore but operated by Chinese people. I have invested 150k AED into it, coming all from my credit cards. When I wanted to withdraw money, the customer service said that I need to pay taxes on the profit amount. After paying taxes to them, they are now saying the financial intelligence department found that my account is abnormal and suspected of money laundering due to recent frequent trades and excessive txn volume. They want me to deposit 20% of my account amt (10k USD) within a week to prove that I didn't launder money, or it will be frozen and will report me to the FI dept. Can you please advise if this is legal according to the laws and regulations of Singapore? I don't have money anymore to pay them and I think it's just a scam. The platform recently had the system upgraded and changed; no license, no t&cs, no physical address, no phone number. Shall I report to the police now?

Q: Hello Sir My son is trading in cryptocurrency, online trading, and Binance exchange, with no personal contact. A  drug dealer purchased crypto & used that money for drug trafficking. So the police arrested my son also and the investigation is under process. What is the maximum time for investigation and when will it be transferred to the court? How much time will it take?

Q: Dear Sir/ Ma'am, My bank in the UAE has suddenly frozen/blocked my credit card and both my accounts without any prior intimation/information. After taking up the bank several times, the bank informed me that this has been done upon the instructions of the Central Bank and there's no reason given. It has been more than a month and the status quo is maintained. I urgently need to access my accounts since I am in urgent need of funds for medical and personal reasons. I do not have any previous cases nor any pending fines, civil/criminal cases, etc and I have always been very prompt in all my payments for more than 27 years. My questions are: 1) Why have my accounts and card frozen/ blocked (without my intimation)? 2) When will they be unblocked/released? (these are my life savings). 3) Can I travel back to the UAE safely without any action taken against me and my family? (presently I am out of the country). Thank you very much for your kind advice. My best regards

Q: I had a misdemeanor case against another accused whom I don't know. The first video call court hearing was on 23 Oct, and the first accused came with his lawyer but I couldn't afford a lawyer. During the hearing, it was very difficult for me to make the judge understand I was not guilty as I don't speak Arabic and the translator also couldn't help that much, since the case is related to crypto buy & sell. Seems they don't understand it properly. So after the first hearing, I checked what the case status was showing. It was decided to postpone the session to 11/06/2024 to submit a defense memorandum for the first accused (the other accused) with the arrest and bringing of the accused. Now they issued arrest warrants against both of us. I am so scared now, please someone guide me on what I can do now. Is there any chance to hire a lawyer now? What is going to happen at the next hearing? Will the police arrest me and take me to the court on the next hearing which is on 6 November?

The new law is applicable to all entities dealing with virtual assets that are set up on the mainland as well as free zones, including special development zones. However, it does not apply to the Dubai International Financial Center (DIFC), which will have its own set of rules and regulations governing all virtual assets entities registered with the DIFC.

The UAE has had tremendous economic development over the last two decades, which can be attributed to the country’s expanding market and large inflow of investments. The demonstrated level of preparedness and equanimity is evident in the legislative framework, characterized by the ongoing and systematic updates of laws. This proactive approach aims to align the legal landscape with the dynamic trajectory of economic advancement, ensuring continual synchronization with the prevailing progress.

Blackwater International, a leading private security and investigative company, has established a reputation for handling complex and high-stakes operations. One of the most challenging areas the company has ventured into is cryptocurrency asset recovery. This case study explores a recent successful recovery operation conducted by Blackwater International, highlighting their methodology, challenges faced, and the impact of their efforts.

This Law promulgates the Federal Penal Code (Criminal Law) of the United Arab Emirates. Crimes and chastisement punishments shall be determined in accordance with the provisions of this Law and other penal codes.

The law defines the crimes related to money laundering, commitments and the jurisdictions of the governmental authorities, and the sanctions against perpetrators of money laundering.

The provisions of this Decree-Law, known as the "New E-commerce Law", govern E-commerce regulations in the United Arab Emirates. The New E-commerce Law repeals the previous UAE E-commerce Law (Federal Law No. (1) of 2006 Concerning Electronic Transactions & Commerce).

Cabinet Resolution No. (28) of 2023 on the Executive Regulations of Federal Decree-Law No. (46) of 2021 on Electronic Transactions and Trust Services

The provisions of this Federal Decree-Law No. (31) of 2021 Promulgating the Crimes and Penalties Law, known as the "New UAE Penal Code", governs criminal actions in the United Arab Emirates. The New Penal Code repeals the previous UAE Penal Code (Federal Law No. (3) of 1987 Promulgating the Penal Code).