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NEWS: UAE fines exchange house landmark $54M for AML breaches

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A general view of Dubai Downtown showing world's tallest building Burj Al Khalifa, in Dubai United Arab Emirates, December 31, 2022. REUTERS/Abdelhadi Ramahi/File Photo

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NEWS: Only 3% of STRs receive detailed reviews at South Korea FIU

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By PAUL O’DONOGHUE, Senior Correspondent

THE UAE Central Bank has fined an exchange house Dh200 million ($54.45 million) for major anti-money laundering (AML) failures.

The regulator said inspections revealed “significant failures” in the firm’s controls against money laundering, terrorism financing, and funding of illegal organizations.

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NEWS: Only 3% of STRs receive detailed reviews at South Korea FIU

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NEWS: FCA calls for tougher oversight of ‘finfluencers’ amid scam crackdown

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NEWS: Top US lawmakers question Binance over Iran transactions

Regulatory Watch News

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