UAE

UAE: 11 banks fined DH 45 million for breaking anti-money laundering rules

Financial sanctions of over DH 45.75 million have been imposed by the UAE Central Bank on 11 banks for violating anti-money laundering regulations.

The Central Bank did not disclose the names of 11 banks.

Banks have been warned that further shortcomings with regard to compliance to AML would result in penalties.

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Source
Khaleej Times

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