Wise fined US$360,000 in UAE for CDD, risk assessment, account approval breaches

Payment services provider Wise has to pay US$360,000 after the Financial Services Regulatory Authority of Abu Dhabi Global Market (FSRA) found it had breached obligations under the AML and Sanctions Rules and Guidance Rulebook between 25 July 2019 and 22 September 2021.

Payment services provider Wise has to pay US$360,000 after the Financial Services Regulatory Authority of Abu Dhabi Global Market (FSRA) found it had breached obligations under the AML and Sanctions Rules and Guidance Rulebook between 25 July 2019 and 22 September 2021.