The Central Bank of the UAE has imposed a Dh200 million fine on an authorized foreign bank branch over recurring anti-money laundering violations. Individual fines of Dh500,000 and Dh300,000 were also issued against the bank's CEO and compliance head, respectively. Regulators mandated independent remediation and a Fit and Proper reassessment of branch leadership.
The Central Bank of the UAE has imposed a Dhs200 million penalty on an unnamed foreign bank branch over repeated failures in anti-money laundering and sanctions compliance. The regulator also levied personal fines against the bank's CEO and compliance head, and ordered a mandatory remediation programme.
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