The Central Bank of the UAE (CBUAE) imposed varying financial sanctions totalling Dh12.3 million on six licensed exchange houses on June 10, 2025, under Article 14 of Federal Decree Law No. 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations. Inspections by the CBUAE uncovered failures by the six firms to implement required AML/CFT policies and procedures, prompting the penalties aimed at safeguarding the transparency and integrity of financial transactions in the UAE.
The Dh12.3 million in fines follows a string of recent enforcement actions by the CBUAE. Since May 20, the bank has levied Dh200 million on an exchange house and Dh100 million on a second operator, alongside Dh18.1 million on two foreign bank branches and Dh3.5 million on another exchange house earlier in June.
