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DFSA imposes $3m fine on Mirabaud for inadequate AML controlsThe Dubai Financial Services Authority (DFSA) has imposed a fine of $3,022,500 (AED11,100,131) on bank Mirabaud (Middle East) Limited (Mirabaud) for having inadequate anti-money laundering (AML) systems and controls between June 2018 and Octob More… |
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Emirates Gold says suspension temporary, will resolve issuesEmirates Gold DMCC has clarified that the suspension of its UAE Good Delivery accreditation is a temporary one and its management is working with the Emirates Bullion Committee to resolve their concerns and have the accreditation reinstated. More… |
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11-member Saudi gang gets jail term for money launderingEleven people, including nine expats, have been sentenced to jail term in Saudi Arabia on charges of laundering SR10 billion ($2.67 billion), reported state news agency SPA. An official source at the economic c More… |
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11-member Saudi gang gets jail term for money launderingEleven people, including nine expats, have been sentenced to jail term in Saudi Arabia on charges of laundering SR10 billion ($2.67 billion), reported state news agency SPA. An official source at the economic c More… |
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UAE cbank issues new guidance on anti-money launderingThe Central Bank of the UAE (CBUAE) has issued new guidance on anti-money laundering and combating the financing of terrorism (AML/CFT) for licensed exchange houses (LEH). The guidance, which came into effect yesterday (November 1 More… |
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UAE extends date to register in anti-money laundering systemsThe UAE’s Ministry of Economy (MoE) has extended the deadline granted to Designated Non-Financial Businesses and Professions (DNFBPs) to register in the systems approved for countering money laundering and combating the financing of terror More… |
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UAE sets up office to combat money launderingThe UAE Cabinet, chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has approved the establishment of the Executive Office of the Anti-Money Laundering and Countering the Financing of Terrorism ( More… |
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Bahrain Rera takes legal action in money laundering casesBahrain's Real Estate Regulatory Authority (Rera) has taken measures against a number of licensees for non-compliance with the requirements to combat money laundering, reported BNA. Rera clar More… |
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UAE cabinet nod for new body to tackle money launderingIn a cabinet meeting today (December 14), HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, approved the formation of the Executive Office of the Anti-Money Laundering and Countering the Financing of More… |
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Saudi Arabia has in place ‘measures to combat terrorist financing’Saudi Arabia has implemented international standards to combat money laundering and terrorist financing in line with the directives developed by the Financial Action Task Force (FATF). This was stated by More… |
