CBUAE Imposes AED 3.5 Million Fine on UAE Exchange House for AML Violations

UAE, 25 February, 2025 : The Central Bank of the UAE (CBUAE) has imposed a financial sanction of AED 3.5 million on an exchange house operating in the UAE. The penalty follows an examination that revealed the exchange house's failure to comply with Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) regulations. This sanction is in accordance with the Federal Decree Law No. (20) of 2018. The CBUAE continues to ensure that all exchange houses adhere to UAE laws and regulatory standards, protecting the integrity of the financial system.