Latest news with #Anti-MoneyLaunderingandCombatingtheFinancingofTerrorismandIllegalOrganisations
Dubai Eye
07-07-2025
- Business
- Dubai Eye
Three exchange houses fined over AED 4 million for compliance failures
The Central Bank of the UAE (CBUAE) has fined three exchange houses a total of AED 4.1 million for failing to comply with anti-money laundering and counter-terrorism financing regulations. The penalties follow an investigation that revealed serious lapses in their procedures. The Central Bank says it remains committed to enforcing UAE laws and ensuring that all financial institutions operate with transparency and integrity. The #CentralBankUAE imposed varying financial sanctions amounting to AED 4,100,000 on three exchange houses, pursuant to Article (14) of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations and its… — Central Bank of the UAE (@centralbankuae) July 7, 2025
ARN News Center
07-07-2025
- Business
- ARN News Center
Three exchange houses fined over AED 4 million for compliance failures
The Central Bank of the UAE (CBUAE) has fined three exchange houses a total of AED 4.1 million for failing to comply with anti-money laundering and counter-terrorism financing regulations. The penalties follow an investigation that revealed serious lapses in their procedures. The Central Bank says it remains committed to enforcing UAE laws and ensuring that all financial institutions operate with transparency and integrity. The #CentralBankUAE imposed varying financial sanctions amounting to AED 4,100,000 on three exchange houses, pursuant to Article (14) of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations and its… — Central Bank of the UAE (@centralbankuae) July 7, 2025
TAG 91.1
07-07-2025
- Business
- TAG 91.1
Three exchange houses fined over AED 4 million for compliance failures
The Central Bank of the UAE (CBUAE) has fined three exchange houses a total of AED 4.1 million for failing to comply with anti-money laundering and counter-terrorism financing regulations. The penalties follow an investigation that revealed serious lapses in their procedures. The Central Bank says it remains committed to enforcing UAE laws and ensuring that all financial institutions operate with transparency and integrity. The #CentralBankUAE imposed varying financial sanctions amounting to AED 4,100,000 on three exchange houses, pursuant to Article (14) of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations and its… — Central Bank of the UAE (@centralbankuae) July 7, 2025
Gulf Today
07-07-2025
- Business
- Gulf Today
CBUAE imposes financial sanctions of Dhs4.1 million on three exchange houses
The Central Bank of the UAE (CBUAE) imposed varying financial sanctions amounting to Dhs4,100,000 on three exchange houses, pursuant to Article (14) of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations and its amendments. The financial sanction has been imposed after assessing the findings of examination conducted by the CBUAE, which revealed that the three exchange houses failed to comply with AML/CFT policies and procedures. The CBUAE, through its supervisory and regulatory mandates, endeavours to ensure that all exchange houses, their owners, and staff abide by the UAE laws, regulations and standards established by the CBUAE to maintain transparency and integrity of the financial transactions and safeguard the UAE financial system. WAM
Gulf Today
03-07-2025
- Business
- Gulf Today
UAE Central Bank slaps Dhs5.9m fine on foreign bank
The Central Bank of the UAE (CBUAE) imposed a financial sanction of Dhs5,900,000 on a foreign bank operating in the UAE, pursuant to Article (14) of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations and its amendments. The financial sanction is based on a CBUAE examination, which revealed the bank's failures to comply with its Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations framework, and related regulations. The CBUAE, through its supervisory and regulatory mandates, endeavors to ensure that all banks and their staff abide by the UAE laws, regulations and standards established by the CBUAE to maintain transparency and integrity of the financial transactions and safeguard the UAE financial system.
