Readers who follow compliance issues in the Middle East are probably aware that the Dubai Financial Services Authority has fined Arqaam Capital Limited USD $50,000, for Anti-Money Laundering deficiencies. Arqaam's AML program was found to be ineffective; the company's address is Level 4, Building GV05, Dubai international Financial Centre, The Gate Village, Dubai, UAE.
The complete text of the regulator's Enforceable Undertaking can be viewed here*.
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*Arqaam Capital Limited: EnforceableUndertaking
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