UAE Central Bank fines exchange house Dh496,000

  DUBAI – The Central Bank of the UAE has fined a money exchange house for violating the anti-money laundering law. An investigation revealed that the money exchange house had a “weak compliance framework to prevent money laundering and financing of terrorism”. The Central Bank did not name the company operating in the UAE. The money exchange company was fined Dh496,000 based on its poor compliance history. ICA/Expat Media
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