UAE Bank Fined Dhs5.8m for Anti-Money Laundering Violations
The Central Bank of the UAE (CBUAE) has fined a bank operating in the UAE Dhs5.8 million.
This penalty, imposed under Article 14 of the Federal Decree Law No. (20) of 2018, follows an examination revealing deficiencies in the bank’s anti-money laundering (AML) and combating the financing of terrorism (CFT) policies.
The CBUAE ensures all banks comply with UAE laws to maintain the financial system’s integrity and transparency.
