UAE, 22 May, 2025 : The Central Bank of the UAE (CBUAE) has imposed a financial penalty of AED 200 million on an exchange house for major lapses in its Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) framework. The fine follows examinations conducted under Article 137 of Federal Law No. (14) of 2018.
Additionally, a branch manager was fined AED 500,000 and banned from working in any UAE-licensed financial institution.
The CBUAE reaffirmed its commitment to enforcing compliance with UAE laws to preserve the integrity of the financial system.
Source : www.centralbank.aeRelated Posts
Anti-Money Laundering (AML) in the UAE is a core component of the country’s financial and economic...
Read More
In an era where financial transactions occur at the speed of light, the role of an Anti-Money Launde...
Read More
@@PLUGINFILE@@/ttsmaker-file-2025-11-13-12-36-37.mp3Listen to this ArticleIn today’s business envi...
Read More