#Anti-Money Laundering

UAE exits FATF’s ‘grey list’ amid reforms

An exit from the grey list marks a swift turnaround for the UAE, which was initially added to the list of jurisdictions under increased monitoring in March 2022

Mirabaud

DFSA fines bank Mirabaud $3m for anti-money laundering controls failings

The penalty includes disgorgement of $975,000, reflecting the economic benefit Mirabaud gained from its violations in the form of fees and commissions

Central-Bank passes new AML guidelines for PEP

CBUAE issues anti-money laundering guidelines related to ‘politically exposed persons’

These guidelines follow CBUAE’s recently introduced AML/ CFT guidance for licensed financial institutions on risks related to payments

CBUAE issues AML guidelines

Central Bank of UAE issues new guidelines on anti-money laundering

The new guidelines state that licensed financial institutions should have compliance programmes in place to mitigate payment-related risks

UAE Central Bank

UAE Central Bank issues new guidance on transaction monitoring and sanctions screening

The guidance came into effect on Monday, September 13, with licensed financial institutions being given a month to demonstrate compliance

Dubai court money laundering

New court in Dubai to fight money laundering cases

It has been set up within the Court of First Instance and Court of Appeal

Dubai’s DFSA appoints F. Christopher Calabia as new chief

He will succeed Bryan Stirewalt with effect from October 1, 2021

UAE Central Bank fines individual Dhs600,000 under anti-money laundering law

The fine was imposed because the individual had no authorisation to undertake a function that required prior approval from the Central Bank

Exchange house in UAE fined Dhs504,000 by Central Bank

The exchange house reportedly has a weak anti-money laundering and combating financing of terrorism compliance framework

UAE Central Bank imposes fines worth Dhs45.75m on 11 banks

The financial sanctions were imposed on January 24, 2021