The Central Bank of the UAE imposed an AED 2,000,000 financial sanction on an exchange house operating in the UAE after an examination identified failures to comply with anti-money laundering and counter-terrorist financing policies and procedures. The sanction was imposed pursuant to Article 137 of Decretal Federal Law No. 14 of 2018 regarding the Central Bank and Organisation of Financial Institutions and Activities, as amended.
Central Bank of the UAE 2025-06-24
Central Bank of the UAE fines an exchange house AED 2 million for AML CFT compliance failures
The Central Bank of the UAE has fined an exchange house AED 2,000,000 for non-compliance with anti-money laundering and counter-terrorist financing regulations, following an examination. The penalty was issued under Article 137 of Decretal Federal Law No. 14 of 2018, as amended.