The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has imposed a financial penalty of USD 486,000 (AED 1,784,835) on Pyypl Ltd (Pyypl), a licensed money service provider operating in ADGM, because, during the period from
ADGM fines money service provider for inadequate AML controls bignewsnetwork.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bignewsnetwork.com Daily Mail and Mail on Sunday newspapers.
UAE: Payment platform fined over Dh1 7 million for violating anti-money laundering laws khaleejtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from khaleejtimes.com Daily Mail and Mail on Sunday newspapers.
ABU DHABI, 4th October, 2023 (WAM) The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has imposed a financial penalty of US$486,000 (AED 1,784,835) on a licenced money service provider operating in ADGM, because, during the period from March 2021 to November 2022, the company’s compliance with applicable Anti-Money Laundering (AML) requirements was inadequate and it acted outside the scope of its Financial Services Permission.The FSRA found that the money service provider failed to establish and maintain adequate AML systems and.