By Alisha Houlihan for AMLi
The Dubai Financial Services Authority (DFSA) on Tuesday announced it fined Mirabaud (Middle East) Limited Dh11.1M (€2.7M), for inadequate anti-money laundering (AML) controls.
As part of the fine, Mirabaud will disgorge DH3.58M (892K), which represents the economic benefit it received from its violations.The fine was reduced from DH14.3M (€3.5M) after Mirabaud agreed to settle the matter.