United Arab EmiratesThe British Virgin Islands Financial Services Commission and the Abu Dhabi Global Market Registration Authority entered into an agreement to cooperate on cross-border monitoring of financial businesses.
The Dubai Financial Services Authority published volume 17 of its DFSA in Action annual report, which summarizes the supervisory and enforcement actions of the regulator during the course of the 2020 year.
Visa, Mastercard bolster vetting of crypto cards clients, Swiss regulators ding lender for failing to monitor Angolan PEP, and more, in the weekly roundup.
Cayman officials impose AML fine, U.K. gaming platform Boylesports Enterprise penalized for compliance lapses, and more, in the weekly roundup.
The Central Bank of the United Arab Emirates issued financial penalties against two exchange houses for weak anti-money laundering and counterterrrorist financing frameworks, one for AED $500,000 and another for AED $950,000.
The Dubai Financial Services Authority fined the Dubai, United Arab Emirates-based financial services company $612,790, including $261,154 in disgorgement, for multiple serious breaches from conducting an illegal cash service for clients that increase the risk of money laundering.
| Technical | Effectiveness |
|---|---|
| Compliant : 5 | High : |
| Largely Compliant : 15 | Substantial : |
| Partially Compliant : 18 | Moderate : |
| Non-Compliant : 11 | Low : |
| Rank : 37/141 |
| Score : 5.89/10 |
| Rank : 21/180 |
| Score : 71/100 |
| Rank : 10/133 |
| Score : 78/100 |