UAE Exchange Fines: $3.3M Penalty Imposed
- the Central Bank of the UAE (CBUAE) has imposed financial sanctions on six exchange houses.
- The sanctions, enacted under Article 14 of Federal decree Law No.20 of 2018,address failures to comply with the AML/CFT framework.
- Through its regulatory oversight, the CBUAE seeks to ensure that exchange houses, their owners, and employees adhere to national laws and standards.
The UAE Central Bank has issued financial sanctions against six exchange houses for breaching anti-money laundering (AML) and counter-terrorism financing (CFT) regulations. The penalties, imposed under Federal Decree Law No. 20 of 2018, reflect the CBUAE’s commitment to enforcing financial standards. Investigations revealed significant AML/CFT framework violations within thes institutions. This decisive action by the Central Bank of the UAE,underscores its dedication to preserving the integrity and transparency of the UAE’s financial sector. news Directory 3 keeps you informed about critical financial developments. What further regulatory measures will the CBUAE unveil?
UAE Central Bank Imposes Financial Sanctions for AML/CFT Violations
Updated June 10, 2025
the Central Bank of the UAE (CBUAE) has imposed financial sanctions on six exchange houses. The penalties stem from violations of the country’s anti-money laundering (AML) and counter-terrorism financing (CFT) regulations.
The sanctions, enacted under Article 14 of Federal decree Law No.20 of 2018,address failures to comply with the AML/CFT framework. Central Bank examinations revealed the violations.
Through its regulatory oversight, the CBUAE seeks to ensure that exchange houses, their owners, and employees adhere to national laws and standards. These measures are designed to maintain transparency, ensure the integrity of financial transactions, and protect the UAE’s financial system.
What’s next
The Central Bank will continue to monitor exchange houses and enforce regulations related to anti-money laundering and combating the financing of terrorism to safeguard the UAE financial system.