UAE: Man fined for money laundering

The Central Bank of the UAE has fined a man Dh 600,000 for violating anti-money laundering law.

A non-authorised individual involved in an exchange house was fined after the he carried out a function without prior approval from the Central Bank.

The Central Bank imposed a financial sanction on the individual and prohibited him from undertaking any future functions related to licensed financial institutions in the UAE.


Khaleej Times

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