Dubai Censures Saxo Bank for Breaching Money Laundering Rules
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The Dubai Financial Services Authority, the regulator of the Dubai International Financial Center business park, censured Saxo Bank Dubai Ltd. for breaching anti-money laundering rules and systems.
This "increased the risk of Saxo Bank’s DIFC business being used for the purposes of money laundering," the Authority said in an e-mailed statement today. "However, the DFSA found no evidence of any money laundering having taken place."