by Danissa Guotana | Sep 21, 2023 | AML
The UAE seized and confiscated assets worth more than Dh1.3 billion ($354 million) from March to mid-July 2023, as it stepped up its fight against money laundering and the financing of terrorism, a top official said. The Emirates also issued fines totalling Dh199...
by Danissa Guotana | Sep 8, 2023 | AML
Authorities have suspended 50 companies in the UAE after they failed to register with the government’s anti-money laundering system. The Ministry of Economy froze the operations of the entities for the third quarter of 2023, state news agency Wam...
by Danissa Guotana | Aug 22, 2023 | AML
The UAE’s Ministry of Economy on Monday said it imposed administrative penalties on 225 companies with a total value of about Dh76.9 million this year to ensure compliance regarding combating money laundering and terror financing. It suspended 50 establishments also...
by Danissa Guotana | Aug 10, 2023 | AML
The Central Bank of the UAE (CBUAE) on Wednesday said it revoked the licence of Dirham Exchange, a money exchange house operating in the UAE, and struck off its name from the Register for serious violations of the regulatory laws. The regulator said it also revoked...
by Danissa Guotana | Aug 8, 2023 | AML
The UAE’s Executive Office of Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) has held a workshop with the World Bank to boost its framework against financial crimes, The event this week was the second workshop of the...
by Danissa Guotana | Aug 2, 2023 | AML
The Dubai Financial Services Authority (DFSA) on Tuesday said it imposed a fine of $3.02 million Dh11.1 million) on the bank Mirabaud (Middle East) Limited for having inadequate anti-money laundering (AML) systems and controls between June 2018 and October 2021. The...
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