the Central Bank in UAE Imposed financial penalties worth AED4.1M ($ 1.12m) in three houses to replace anti-currency (AML) (CFT-terrorism financing.
Penalties, issued under the article (14) in the Federal Decree Decree Law No. (20) In 2018, follow the detailed exams in Central Bank, finding important compliance deficiencies.
This includes disabilities in enforcing adequate Aml / CFT / CF methods intended to determine and prevent bad financial activity.
CBuae fine
The action is about the wider command of CBuae to handle and regulate the financial institutions of the United Arab Emirates, ensure that they act in accordance with local laws and the highest international standards.
By holding houses in exchange with accountability, the Central Bank Aim to maintain transparency, financial strength, and complying with global AML / CFT frameworks.
