UAE Central Bank imposes Dh4.8 million fine on exchange house
Central Bank has been getting tough on strict compliance with AML laws
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The CBUAE works to ensure that all exchange houses, their owners and staff abide by the UAE laws, regulations and standards.
WAM
Dubai: The Central Bank of the UAE (CBUAE) imposed a financial sanction of Dh4.8 million on an exchange house for weak compliance framework regarding the required risk analysis and (enhanced) due diligence policies. These measures are in place to prevent money laundering and the financing of terrorism, according to an announcement made on Thursday.
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