The Central Bank of the UAE imposed a combined financial sanction of AED 4,100,000 on three exchange houses on 7 July 2025 for failures to comply with the country's anti-money laundering and combating the financing of terrorism policies and procedures, the regulator announced. The CBUAE did not disclose the names of the penalised institutions but said examinations had found that all three had failed to comply with AML/CFT policies and procedures. The penalties were issued under the UAE's federal AML and CFT legislative framework.
EXAMINATION FINDINGS
The CBUAE stated that examinations identified failures at all three exchange houses to meet the AML and CFT requirements prescribed under UAE federal law. The specific nature of the deficiencies was not detailed in the public announcement.
EARLIER ACTION AGAINST A FOREIGN BANK BRANCH
The 7 July action followed a separate enforcement measure the previous week, on 2 July, when the CBUAE had imposed a financial sanction of AED 5.9 million on a branch of an unnamed foreign bank for AML and CFT framework failures.