Anti-Financial Crime & Financial Crime Compliance
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AML, Financial Crime, UAE

UAE fines exchange house DH 1.92M (€497K) for ‘weak’ compliance framework and AML shortcomings

By Alisha Houlihan for AMLi

The United Arab Emirates (UAE) has penalised an exchange house DH1.92M (€497K) for failing to comply with compliance regulations.

The Central Bank of the UAE (CBUAE) imposed the fine on the exchange house for violations of the law on anti-money laundering (AML) and terrorism financing, according to The National News.

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