Top Tips for Financial Crime Trends in the Middle East and Africa
Top Tips for Financial Crime Trends in the Middle East and Africa April 29, 2021 Financial Crime Trends Across Middle East and Africa (MEA) – Summary Businesses and criminals have had to adapt to the abrupt and far-reaching impacts of the COVID-19 pandemic. The pandemic also provided ample opportunities for criminals to devise new schemes […]
ABN AMRO to pay $575M in money laundering settlement with Dutch authorities
Dutch bank ABN AMRO on Monday reached a €480 million (U.S. $575 million) settlement with the Netherlands Public Prosecution Service (NPPS) to resolve money laundering charges. The NPPS first informed ABN AMRO in 2019 the bank was the subject of a criminal investigation relating to potential violations of the Dutch Anti-Money Laundering and Counter Terrorism […]
The Fight Against Financial Crime in the Middle East Exchange house in UAE fined Dhs504,000 by Central Bank
An exchange house in UAE was reportedly fined Dhs504,000 by the Central Bank of the UAE (CBUAE). The CBUAE confirmed in an announcement that the exchange house was fined because it was operating in the country with weak anti-money laundering (AML) and anti-terrorism compliance framework. In fining the exchange house, the CBUAE took into consideration […]
UAE Takes a Stand Against Illicit Finance
The UAE Higher Committee Overseeing the National Strategy on Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) has launched two programmes to train and certify professionals on global compliance standards and procedures to fight illicit finance.Under the programme, more than 140 professionals working alongside 36 federal and local competent authorities in the UAE […]