Under the UAE Penal Code, called the Federal Decree-Law No. 31 of 2021 On the Issuance of Crimes and Penalties Law, crimes are divided into three types. These are misdemeanours, felonies, and infractions. Embezzlement is understood to mean a crime in which the embezzler legally obtains assets and then fraudulently appropriates them. Under the UAE Penal Code, the law on embezzlement is covered under the provisions related to ‘breach of trust’.
Data breach have become quiet a common feature of today’s time of hyper online connectivity.
Accessibility to global trade, tax-free income, innumerable business opportunities and free trade environment is an optimal location for any business venture and UAE is one such example of such a business environment. However, even in such favourable region, industrialist practices dishonest behaviour in order to gain undue profits.
In order for breach of trust to take place the accused must receive the possession of the object only in one of the following cases: As a lease or trust or usage or mortgage or proxy.
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