Dubai: On April 21, 2025, in Dubai, the UAE Central Bank fined a local bank after finding serious gaps in its anti–money laundering checks. The regulator’s review showed the bank had not followed the country’s AML rules, so the Central Bank imposed a financial penalty to enforce compliance.
This action is part of a broader effort to strengthen the UAE’s fight against financial crime. Last year, the Central Bank created the National Anti‑Money Laundering, Counter‑Terrorism Financing and Financial Crimes Commission (NAMLCFTC) to centralize AML oversight. Since then, it has suspended a currency exchange, fined several banks and insurers, and revoked an insurance broker’s license.
By taking firm steps against lapses, the Central Bank aims to keep the UAE’s financial system clean, transparent, and trustworthy. These measures send a clear message that all financial institutions must follow AML laws.
