UAE central bank launches probe into Banque Misr after U.S. money laundering warning
Money laundering
The Central Bank of the UAE launched an urgent forensic examination of Banque Misr's local branches following U.S. Treasury action. The CBUAE stated that banks operating in the UAE must comply with sanctions screening obligations and must not expose the country's financial system to reputational risks. The central bank indicated it is studying options available regarding the bank's status in the UAE pending completion of its forensic review, which will examine banking transactions linked to entities named in the U.
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Fraud & scams
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Fraud & scams
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