World over, crackdown on dirty money is intensifying each passing day.
It is not just the United States and its European allies which have stepped up their war on black money and are tightening their laws to stop the unbridled spread of this money into their economies, but they are also putting pressure on nations across the world, including their Gulf friends, to heavily scrutinise their exchequers for such money.
The United Arab Emirates has been regarded as one of the choicest destinations for keeping such money, but in recent years it has introduced strict laws to discourage flow of black money into the country.
Under the new laws, the Emirati banks have been authorised to quiz non-resident account holders about their tax details in their countries of origin as well as source of the money deposited in the accounts held with them.
For long, there