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UAE fines two exchange houses for lax AML/CFT compliance

Money Laundering Bulletin

UAE fines two exchange houses for lax AML/CFT compliance

Two unnamed exchange houses have been fined AED950,000 (US$258,640) and AED500,000 (US$136,125), respectively, by the Central Bank of the United Arab Emirates for weak anti-money laundering and counter terrorist financing controls.

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