The Financial Markets and Commodities Authority in Dubai has implemented strict measures against a group of companies for violating financial regulations and for not adhering to anti-money laundering and counter-terrorism financing rules. The authority imposed financial fines on the violating companies totaling 1.15 million dirhams since the beginning of January.
These measures come as part of the authority's efforts to protect the financial system and ensure compliance by companies and investors with financial regulations. The total fines imposed on the violating companies and investors amount to approximately 650,000 dirhams, in addition to imposing a fine of 500,000 dirhams on other companies for non-compliance with anti-money laundering and counter-terrorism financing rules, encouraging them to engage in unlawful activities.
