Two people flagged up suspicious activity at a major Dubai gold refiner - and lost their jobs.
Anna Waterhouse was a high-flying lawyer at Deutsche Bank in Dubai. Now she's unemployed.
Anna and Amjad didn't know it at the time but had stumbled upon evidence of an organised crime group using gold sales to Kaloti to launder British drug cash.In 2013, Amjad was leading an audit into Kaloti's supply chain for EY.His team found Kaloti had weak checks on its suppliers - and was handing out extraordinary amounts of physical cash for gold."Kaloti has done more than $5.2bn in cash in one year. Money-laundering 101 tells you not to use cash.
BBC Panorama's joint investigation with Premieres Lignes shows that cash from Kaloti was a crucial part of a $250m money-laundering operation which used gold sales to launder cash from British and European drug deals. Anna Waterhouse reported her suspicions about Kaloti's cash withdrawals to the local money-laundering authorities. It was a decision that would wreck her life.
Anna also reported the suspicions to another regulator, the Dubai Financial Services Authority . It polices anti-money laundering regulations in the Dubai International Finance Centre. It shows the managers discussed a plan to"offer up Ms Waterhouse" to"express settle everything for the bank".The bank escaped with a reduced fine and Anna was the only manager sanctioned by the DFSA. She's now appealing through the courts.
He is suing EY, claiming he was ostracised and labelled a trouble-maker, then forced from his job by being pressured to return to Dubai.
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