The United Arab Emirates’ central bank imposed financial sanctions on 11 banks operating in the country for their failure to reach appropriate levels of compliance on anti-money laundering and sanctions. The sanctions imposed on January 24 amounted to a total of AED45.76 million ($12.5m), the regulator said in a statement. It didn’t identify the banks.

CBUAE - Central Bank of the UAE

Source

Published on Jan. 24th, 2021 Published on Jan. 24th, 2021

Scenario: Conduct / Breach of AML, Terrorism Financing or Sanctions Regulations

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Sept. 20th, 2021

ORX Forum

ELSEWARE/MSTAR will be speaking on climate stress on operational risk at the ORX forum on September 23. In particular, we will be presenting the work we have done on this topic with the American Bankers Association and a group of banks.