UAE Ministry fines 29 companies over AED 22 million, here’s why

• The UAE’s Ministry of Economy has imposed a hefty fine of AED 22.6 million on 29 companies.
• They failed to comply with Anti-Money Laundering/Combating the Financing of Terrorism legislation.
• Does this bring any opportunities for Finance Professionals?

UAE fines 29 companies for breaching AML/CFT laws

The UAE’s Ministry of Economy (MoE) recently imposed a fine of AED 22.6 million on 29 companies.

The action is a part of the Ministry’s effort to combat money laundering and terror financing.