Depositing any kind of fund without a permit is a crime by law
Depositing funds of any kind without a permit is a legal offense in the United Arab Emirates. The person doing so may face a jail term as well as a fine. Fundraising Regulatory Laws of the UAE allow deposits of a minimum of Dh150,000 and a maximum of Dh300,000 without a permit.
Residents should also be careful about this and should not co-operate in this.
Whereas Hamed Al Zaabi, director of the Executive Office for Combating Money Laundering and Terrorist Financing has told that residents should also be careful about this and should not give their cooperation in this. It is a legal offense to run a campaign on any social media.
The accused can also face jail and a fine of up to Dh300,000. That is why next time someone comes to take money from you for the fund, then only after thorough investigation become a participant in it.
