Latest news with #Anti-MoneyLaunderingandCombatingtheFinancingofTerrorismandFinancingofIllegalOrganisations
Gulf Insider
11-07-2025
- Business
- Gulf Insider
UAE Central Bank Fines Bank AED3 mn For AML Violations
The Central Bank of the UAE (CBUAE) has imposed a financial sanction of AED 3,000,000 on a bank following compliance failures related to anti-money laundering regulations. The sanction was imposed pursuant to Article 14 of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations and its amendments, and Article 137 of the Decretal Federal Law No. (14) of 2018 Regarding the Central Bank and Organisation of Financial Institutions and Activities and its amendments. The sanctions result from the central bank's examinations, which revealed the bank's failure to comply with the central bank instructions, which stipulated in the Decree Federal Law No. (20) of 2018 on Anti-money Laundering and Combating the Financing of Terrorism and Illegal Organisations and its amendments. The CBUAE stated that through its supervisory and regulatory mandates, it 'works to ensure that all banks and their staff, abide by the UAE laws, regulations and standards adopted by the CBUAE to safeguard the transparency and integrity of the banking sector and the UAE financial system,' the Emirates News Agency (WAM) said in a statement.
Dubai Eye
10-07-2025
- Business
- Dubai Eye
UAE bank faces hefty fine for breaching anti-money laundering rules
The Central Bank of the UAE has imposed a fine of AED 3 million on a bank for failing to comply with anti-money laundering regulations. The penalty follows inspections that revealed violations of federal laws aimed at combating money laundering, terrorism financing, and the funding of illegal organisations. The name of the bank involved has not been disclosed. Authorities say the action is part of ongoing efforts to ensure all financial institutions operate transparently and in line with UAE laws and Central Bank standards. The #CentralBankUAE imposed a financial sanction on a bank of AED3,000,000, pursuant to Article 14 of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations and its amendments, and Article… — Central Bank of the UAE (@centralbankuae) July 10, 2025
Gulf Today
10-07-2025
- Business
- Gulf Today
CBUAE imposes financial sanction of Dhs3 million on bank
The Central Bank of the UAE (CBUAE) imposed a financial sanction on a bank of Dhs3,000,000, pursuant to Article 14 of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations and its amendments, and Article 137 of the Decretal Federal Law No. (14) of 2018 Regarding the Central Bank & Organisation of Financial Institutions and Activities and its amendments. The sanctions result from the CBUAE's examinations, which revealed the bank's failure to comply with the Central Bank instructions, which stipulated in the Decree Federal Law No. (20) of 2018 on Anti-money Laundering and Combating the Financing of Terrorism and Illegal Organisations and its amendments. The CBUAE, through its supervisory and regulatory mandates, works to ensure that all Banks and their staff, abide by the UAE laws, regulations and standards adopted by the CBUAE to safeguard the transparency and integrity of the banking sector and the UAE financial system. WAM
ARN News Center
10-07-2025
- Business
- ARN News Center
UAE bank faces hefty fine for breaching anti-money laundering rules
The Central Bank of the UAE has imposed a fine of AED 3 million on a bank for failing to comply with anti-money laundering regulations. The penalty follows inspections that revealed violations of federal laws aimed at combating money laundering, terrorism financing, and the funding of illegal organisations. The name of the bank involved has not been disclosed. Authorities say the action is part of ongoing efforts to ensure all financial institutions operate transparently and in line with UAE laws and Central Bank standards. The #CentralBankUAE imposed a financial sanction on a bank of AED3,000,000, pursuant to Article 14 of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations and its amendments, and Article… — Central Bank of the UAE (@centralbankuae) July 10, 2025
Al Etihad
10-07-2025
- Business
- Al Etihad
UAE Central Bank imposes financial sanction of Dh3 million on bank
10 July 2025 17:27 ABU DHABI (WAM)The Central Bank of the UAE (CBUAE) imposed a financial sanction on a bank of Dh3,000,000, pursuant to Article 14 of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations and its amendments, and Article 137 of the Decretal Federal Law No. (14) of 2018 Regarding the Central Bank & Organisation of Financial Institutions and Activities and its sanctions result from the CBUAE's examinations, which revealed the bank's failure to comply with the Central Bank instructions, which stipulated in the Decree Federal Law No. (20) of 2018 on Anti-money Laundering and Combating the Financing of Terrorism and Illegal Organisations and its amendments. The CBUAE, through its supervisory and regulatory mandates, works to ensure that all Banks and their staff, abide by the UAE laws, regulations and standards adopted by the CBUAE to safeguard the transparency and integrity of the banking sector and the UAE financial system.
