EGCM Emirate Global Capital Markets Newsletter No. 70

Dear Clients,

From Dubai, network marketing (MLM) and cyber scams can be initiated for several reasons:

1. Position as a Financial Hub: Dubai serves as a global financial hub with a well-developed banking system and accessibility to capital. This infrastructure grants scammers access to financial resources and money transfer mechanisms.
2. Multicultural Environment: Dubai is home to a diverse population from various countries and cultures. This multicultural setting can facilitate scammers in targeting individuals from different social and cultural backgrounds.
3. High Standard of Living: Dubai boasts a high standard of living and attracts individuals willing to invest in various opportunities and products. Scammers may target people inclined towards risk-taking and willing to invest without detailed analysis.
4. Lack of Regulatory Oversight: While Dubai is known for its business-friendly environment, some sectors, such as cryptocurrencies and network marketing, may lack strict regulatory oversight compared to other parts of the world. The absence of regulations can enable scammers to operate with fewer restrictions.
5. Anonymity: Dubai offers a degree of anonymity and identity protection for individuals, which can make it easier for scammers to operate without fear of detection.

All these factors combined can create a conducive environment for the initiation of MLM and cyber scams from Dubai. However, it is important to note that this does not reflect all entities or activities in Dubai, but only specific individuals or groups that exploit these factors for illegal purposes. Among those who have utilized these for illegal purposes are the individuals involved in the EGCM case.

During this week we haven’t had any new information regarding this case. We expect Europol and the Slovenian prosecution, in collaboration with the Dubai police, to solve this case. We have filed a report and provided all necessary information to Europol.

Zoran Miljakovic
Attorney at Law

Poštovani klijenti,

Iz Dubaija se mogu pokretati mrežni marketinški (MLM) i cyber prevare iz više razloga:

1. Pozicija kao finansijski centar: Dubai je globalni finansijski centar s razvijenim bankarskim sistemom i dostupnošću kapitala. Ova infrastruktura omogućava prevarantima pristup finansijskim resursima i mehanizmima za prenos novca.
2. Multikulturalno okruženje: Dubai je dom raznolikog stanovništva iz različitih zemalja i kultura. Ova multikulturalna sredina može olakšati prevarantima da ciljaju ljude iz različitih društvenih i kulturnih pozadina.
3. Visok standard života: Dubai ima visok standard života i privlači ljude koji su spremni da ulože novac u razne prilike i proizvode. Prevaranti mogu ciljati ljude koji su skloni riziku i spremni su investirati bez detaljne analize.
4. Nedostatak regulatornih propisa: Iako je Dubai poznat po svom poslovnom okruženju, neki sektor, poput kriptovaluta i mrežnog marketinga, možda nema stroge regulatorne propise kao u drugim delovima sveta. Nedostatak regulativa može omogućiti prevarantima da deluju bez mnogo ograničenja.
5. Anonimnost: Dubai pruža određeni stepen anonimnosti i zaštite identiteta pojedinaca, što može olakšati prevarantima da operišu bez straha od otkrivanja.

Sve ove faktore zajedno mogu stvoriti povoljno okruženje za pokretanje MLM i cyber prevara iz Dubaija. Međutim, važno je napomenuti da ovo ne odražava sve subjekte ili aktivnosti u Dubaiju, već samo određene pojedince ili grupe koje koriste ove faktore za nelegalne svrhe.

Medju onima koji su to iskoritili u nelegalne svrhe su osunjičeni u predmetu EGCM.

U toku ove nedelje nismi imali novih informcija u ovom slucaju. Očekujemo da Europol i Slovensko tužilaštvo, u saradnji s policijom Dubaija, reše ovaj slučaj. Podneli smo prijavu i pružili sve potrebne informacije Europolu.

Advokat Zoran Miljaković