Anti-Money Laundering (AML) Enforcement
Jul 18, 2025
Law Overview:
The Central Bank of the UAE imposed significant financial penalties totaling AED 4.1 million on three money exchange houses for failing to comply with anti-money laundering and counter-terrorism financing regulations under Article 137 of Decretal Federal Law No. (14) of 2018.
Article Proper:
UAE: Three money exchange houses fined Dh4.1 million for violating law
The Central Bank of the UAE (CBUAE) has imposed a financial penalty of Dh4.1 million on three money exchange houses operating in the country for failing to comply with anti money laundering and counter-terrorism financing (AML/CFT) regulations.
The fine was issued under Article 137 of Decretal Federal Law No. (14) of 2018, which governs the Central Bank and the regulation of financial institutions in the UAE. The financial sanction follows an investigation by the CBUAE, which uncovered deficiencies in the three companies' adherence to required AML/CFT policies and procedures.
The CBUAE reiterated its commitment to maintaining the transparency and integrity of the UAE’s financial system. Through its regulatory role, the bank ensures that all exchange houses, along with their owners and staff, comply fully with UAE laws and standards.