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Are thieves required to pay taxes on stolen money?

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Question added by Abdullah Mahhaden, CFA, CPA , Assurance Manager , Grant Thornton
Date Posted: 2013/06/17
Mohammed Salim Allana
by Mohammed Salim Allana , Compliance and Assurance Manager , United Arab Bank

Yes, in case those money enters into the Financial systems through money laundering.

Everybody (Bankers, Auditors and Designated Non Financial Professionals) is responsible for idenitifcation and reporting of laundered money to the regulators immediately to protect Rogues from entering into the financial systems

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