The Central Bank of the UAE imposed varying financial sanctions on six UAE exchange houses, totalling 12,300,000, under Article (14) of Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations, as amended. The sanctions followed CBUAE examinations that identified violations and failures by the six exchange houses to comply with the AML/CFT framework and related regulations. The CBUAE linked the enforcement action to its supervisory and regulatory mandate to ensure exchange houses, their owners and staff comply with applicable laws, regulations and CBUAE standards to support transparency and integrity in financial transactions and safeguard the UAE financial system.
Central Bank of the UAE 2025-06-10
Central Bank of the UAE imposes 12.3 million in AML CFT financial sanctions on six exchange houses
The Central Bank of the UAE imposed 12.3 million AED in sanctions on six exchange houses for violating the Anti-Money Laundering and Combating the Financing of Terrorism framework under Article (14) of Federal Decree Law No. (20) of 2018. The sanctions followed examinations revealing non-compliance with AML/CFT regulations. This enforcement aligns with the CBUAE's mandate to uphold transparency and integrity in financial transactions and protect the UAE financial system.