The Central Bank of the UAE (CBUAE) imposed a financial sanction of 100 million on an exchange house after examinations found significant failures in its anti-money laundering and combating the financing of terrorism and illegal organisations framework and related regulatory requirements. The sanction was imposed pursuant to Article 137 of Decretal Federal Law No. 14 of 2018 on the Central Bank and the Organization of Financial Institutions and Activities, as amended. The CBUAE reaffirmed that exchange houses, their owners and staff are expected to comply with applicable UAE laws, regulations and CBUAE standards.
Central Bank of the UAE 2025-05-29
Central Bank of the UAE imposes 100 million financial sanction on an exchange house for AML and CFT failures
The Central Bank of the UAE imposed a financial sanction of 100 million AED on an exchange house for significant failures in its anti-money laundering and combating the financing of terrorism framework. The action was taken under Article 137 of Decretal Federal Law No. 14 of 2018. The CBUAE emphasized the obligation of exchange houses, their owners, and staff to adhere to UAE laws and CBUAE standards.