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UAE Central Bank fines local bank Dh3 million over anti-money laundering failures

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The Central Bank of the UAE (CBUAE) has imposed a financial penalty of Dh3 million on a local bank for failing to comply with anti-money laundering (AML) regulations.

The fine was issued under Article 14 of Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combatting the Financing of Terrorism and Illegal Organisations, as well as Article 137 of the Decretal Federal Law No. (14) of 2018 concerning the Central Bank and regulation of financial institutions.

The CBUAE said the penalty followed an investigation which found that the bank had not met regulatory requirements outlined in UAE legislation to combat financial crime.

In a statement, the Central Bank reaffirmed its commitment to maintaining the transparency and integrity of the country’s financial system. “We continue to supervise and regulate all licensed financial institutions to ensure full compliance with UAE laws, regulations, and standards,” the authority said.

The name of the bank was not disclosed.

With over 35 years of experience in journalism, copywriting, and PR, Michael Gomes is a seasoned media professional deeply rooted in the UAE’s print and digital landscape.

Crime

Abu Dhabi Police warn residents: Don’t click fake traffic fine links

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Abu Dhabi Police have issued an urgent warning to motorists and residents after a scam message began circulating online, tricking people into believing they have a traffic violation.

The fake alert misuses an official police logo and provides a link to “check” the violation. But instead of leading to a government website, the link redirects to a hacker-controlled page operated by fraudsters in an Asian country. Victims risk losing personal data, banking details, and even money from their accounts.

Where the scam is spreading

According to police, the fraudulent link is being widely shared on WhatsApp, email, TikTok, Facebook, and X (Twitter).

The warning message being circulated online reads:

“Beware of any electronic message claiming you have a traffic fine and asking you to click a link to verify. These links are fake and run by scammers impersonating official websites.”

Why police are raising the alarm

  • Fraudsters exploit fake advertisements and misleading links to steal financial and personal data.
  • The bogus websites are designed to look like official portals but are in fact controlled by hackers.
  • Scammers harvest bank details, passwords, and security codes once users enter their information.

How to protect yourself

  • Verify the source: Open links only if you are 100% sure they are genuine.
  • Don’t share sensitive info: Never type your banking or personal details into suspicious links.
  • Use official apps only: Stick to government applications on the App Store or Google Play.
  • Enable two-step verification: Turn on 2FA for accounts like WhatsApp to stay safe.

What to do if you’re targeted

If you receive such a link or suspect fraud, report it immediately through:

  • Aman Service hotline: 8002626
  • SMS: 2828
  • Email: aman@adpolice.gov.ae
  • Abu Dhabi Police Smart App

Abu Dhabi Police reminded the public to remain vigilant online: “Do not click suspicious links. Protect your data, protect your money.”

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Dubai launches Centre for Judicial Expertise to enhance efficiency and public trust in legal system

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Dubai has announced the launch of the Dubai Centre for Judicial Expertise, an initiative guided by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The move marks a major step in strengthening the emirate’s judicial framework and reinforcing confidence in its legal system.

The new centre will provide courts with accredited experts from both the UAE and abroad, all working under unified standards for appointment, supervision, and performance evaluation. Officials said the establishment of the centre will ensure greater accuracy in expert reports, speed up case resolutions, and contribute to the development of highly skilled Emirati talent in specialised fields.

Strengthening Dubai’s global standing

Authorities emphasised that the initiative will not only enhance the quality of judicial processes but also support Dubai’s position as a leading global hub for living, working, and investing. By standardising expert services and expanding specialised expertise, the emirate aims to deliver fairer, faster, and more transparent judicial outcomes.

Key objectives of the Centre

  • Support Dubai’s judicial authorities with qualified national and international experts.
  • Improve the quality and efficiency of expert reports to enable accurate rulings and timely case resolution.
  • Train and develop specialised Emirati cadres across diverse fields of expertise.
  • Establish unified standards and procedures for the appointment, supervision, and evaluation of experts.
  • Build strong local and international partnerships for knowledge-sharing and expertise exchange.

Core functions

The Dubai Centre for Judicial Expertise will:

  • Receive and process requests from judicial authorities, appointing specialised experts tailored to each case.
  • Create an integrated legislative framework to govern expert work before Dubai courts, ensuring accuracy, consistency, and transparency in reports.
  • Strengthen litigants’ trust in the judicial system by reinforcing the credibility of expert testimony.

The initiative is part of Dubai’s wider efforts to align its judicial system with global best practices while maintaining efficiency, integrity, and innovation at its core.



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UAE Central Bank revokes Malik Exchange licence, imposes Dh2m fine

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The Central Bank of the UAE (CBUAE) has revoked the licence of Malik Exchange and imposed a fine of Dh2 million after the company was found in breach of anti-money laundering and counter-terrorism financing (AML/CFT) regulations. The exchange house has also been removed from the Central Bank’s official register.

The decision followed a regulatory investigation, which concluded that the company failed to comply with the UAE’s Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations framework. According to the Central Bank, the violations were serious enough to warrant both financial and operational penalties, effectively shutting down the exchange.

Strong message to financial institutions

The CBUAE stressed that it regularly monitors financial institutions, including exchange houses, to ensure strict adherence to national laws and international standards. The authority said it will continue to take “deterrent action” against companies that fall short of their obligations.

“Through its supervisory and regulatory mandates, the Central Bank ensures that all exchange houses, their owners and staff abide by UAE laws designed to safeguard the transparency and integrity of the national financial system,” the regulator said in a statement.

The move underlines the UAE’s efforts to strengthen financial oversight and prevent the misuse of its banking and exchange sector for money laundering or terrorism financing.

Part of wider crackdown

Over the past two years, the UAE has tightened its regulatory framework in line with global best practices. Several exchange houses and financial institutions have faced fines or licence suspensions for failing to comply with AML/CFT rules.

The country has also established new bodies, such as the Executive Office of Anti-Money Laundering and Counter Terrorism Financing, to coordinate national efforts and work closely with international partners.

Regulated exchanges

The Central Bank maintains a comprehensive list of authorised operators, ensuring consumers have alternative, regulated options for sending and receiving money.

The authority has advised the public to only deal with licensed financial institutions, warning that using unregulated operators puts individuals at risk of fraud and non-compliance with UAE law.

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