Dh339 million in fines as UAE launches major money laundering crackdown

The United Arab Emirates is ringing a stark new alarm for financial institutions, unleashing an intense crackdown on money laundering and terrorism financing. UAE regulators have recently imposed staggering penalties totaling over Dh339 million, targeting a spectrum of financial institutions including local exchange houses, international bank branches, and insurance companies. This robust enforcement sends an unmistakable…