Police authority in UAE to shut down the illegal money transfer. The Sharjah police have launched a crackdown on shops involved in transferring money without licence to many countries. The police have also warned shop owners against using their premises to run the illegal business.
This new move comes after the recent arrest of five Asian managers of mobile shops who allegedly transferred money to countries like India, Pakistan, Bangladesh, Ethiopia and Sudan without obtaining licence to carry out such business.
As per the police this illegal money transfer wouldn’t go through central banks and affect the country’s economy. It will also affect money transfer and exchange companies that are legally operating in various parts of the emirate.
Police has urged the public to use the accredited money transfer companies and banks to transfer funds .
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