The Central Bank of the UAE (CBUAE) revoked the licence of Sundus Exchange operating in the UAE, struck its name off the licences register, and imposed a financial sanction of 10 million 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 measures followed CBUAE examinations that identified failures and violations of the Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations framework and related regulations.
Central Bank of the UAE 2025-06-17
Central Bank of the UAE revokes Sundus Exchange licence and imposes 10 million financial sanction
The Central Bank of the UAE revoked Sundus Exchange's licence, removed it from the licences register, and imposed a 10 million AED fine under Article 14 of Federal Decree Law No. 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations. These actions followed examinations revealing violations of the relevant framework and regulations.