The Central Bank of the UAE imposed a financial sanction of 10,700,000 on an exchange house 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 action followed an examination whose findings indicated failures to comply with AML/CFT policies and procedures and with sanctions obligations. The Central Bank framed the measure as part of its supervisory and regulatory mandate to ensure exchange houses, their owners and staff comply with UAE laws, regulations and standards it establishes, with the stated objective of supporting transparency and integrity in the exchange house sector and safeguarding the UAE financial ecosystem.
Central Bank of the UAE 2025-08-01
Central Bank of the UAE imposes a 10.7 million financial sanction on an exchange house for AML CFT and sanctions compliance failures
The UAE Central Bank fined an exchange house 10,700,000 AED for violating Anti-Money Laundering and Combating the Financing of Terrorism policies under Article (14) of Federal Decree Law No. (20) of 2018. This follows an examination revealing failures in AML/CFT procedures and sanctions obligations. The measure aligns with the Central Bank's mandate to uphold transparency and integrity in the exchange house sector and protect the UAE financial ecosystem.