Arakan Forensic
UAE regulatory enforcement database
A growing, independently compiled record of fines, warnings, suspensions and reprimands published by CBUAE, DFSA, VARA, ADGM and SCA.
Last updated 03 Sep 2026, 07:32 UTC
Total actions
333
Actions in 2026
9
Last 6 months
5
Total fines
AED 2.32B
Showing 50 of 333 actions
| # | Regulator | Date | Fine (AED) | Entity | Entity type | Action type | Source |
|---|---|---|---|---|---|---|---|
| 201 | DFSA | 2022-03-01 | — | A Firm | bank | Fine | ↗ |
| 202 | DFSA | 2022-02-07 | — | Paymentology Ltd | fintech | Reprimand | ↗ |
| 203 | CBUAE | 2021-12-30 | 600,000 | — | exchange | Fine | ↗ |
| 204 | CBUAE | 2021-12-27 | 352,000 | — | exchange | Fine | ↗ |
| 205 | CBUAE | 2021-12-14 | 19,500,000 | — | bank | Multiple | ↗ |
| 206 | DFSA | 2021-12-05 | 770,700 | EQUITATIVA (DUBAI) LIMITED | fund manager | Multiple | ↗ |
| 207 | DFSA | 2021-12-05 | 770,700 | Equitativa (Dubai) Limited | fund manager | Fine | ↗ |
| 208 | CBUAE | 2021-11-03 | 350,000 | six Hawala providers | other | Fine | ↗ |
| 209 | DFSA | 2021-10-19 | 596,375 | Zachary Cefaratti | — | Multiple | ↗ |
| 210 | DFSA | 2021-10-07 | 7,073,907 | Mr Mustafa Ahmed Talaat Abdel-Wadood | fund manager | Multiple | ↗ |
| 211 | CBUAE | 2021-10-04 | 17,311,000 | — | exchange | Fine | ↗ |
| 212 | CBUAE | 2021-09-13 | — | — | — | — | ↗ |
| 213 | DFSA | 2021-08-08 | 497,527,892 | Mr. Arif Masood Naqvi | fund manager | Multiple | ↗ |
| 214 | CBUAE | 2021-07-26 | — | — | — | — | ↗ |
| 215 | CBUAE | 2021-07-15 | — | — | — | — | ↗ |
| 216 | DFSA | 2021-06-16 | 5,505,000 | KPMG Limited Liability Partnership | other | Fine | ↗ |
| 217 | DFSA | 2021-06-14 | 4,220,500 | — | fund manager | Multiple | ↗ |
| 218 | DFSA | 2021-06-08 | 6,239,000 | Mr. Ashish Bhrugu Dave | — | Multiple | ↗ |
| 219 | ADGM | 2021-05-24 | 18,350 | AAF MENA Ltd | other | Fine | ↗ |
| 220 | DFSA | 2021-05-18 | — | FFA Private Bank (Dubai) Limited | bank | Cease & Desist | ↗ |
| 221 | ADGM | 2021-05-10 | 36,700 | Emirates Advocates LLP | other | Fine | ↗ |
| 222 | ADGM | 2021-05-06 | 18,350 | Crowe Mak LLP | other | Fine | ↗ |
| 223 | ADGM | 2021-05-04 | 18,350 | World Credit Solutions Ltd | other | Fine | ↗ |
| 224 | ADGM | 2021-04-25 | 18,350 | Outer Temple Middle East Limited | other | Fine | ↗ |
| 225 | CBUAE | 2021-04-18 | 496,000 | — | exchange | Fine | ↗ |
| 226 | CBUAE | 2021-04-18 | — | S&S Brokerage House | broker | Revocation | ↗ |
| 227 | ADGM | 2021-04-06 | 18,350 | Middle East Trusted Advisors Ltd | other | Fine | ↗ |
| 228 | ADGM | 2021-04-04 | 18,350 | Ocorian Corporate Services (ME) Limited | other | Fine | ↗ |
| 229 | ADGM | 2021-03-28 | 18,350 | Reed Smith LLP | other | Fine | ↗ |
| 230 | ADGM | 2021-03-08 | 36,700 | Elmar Capital SPV Limited | other | Fine | ↗ |
| 231 | CBUAE | 2021-01-31 | 600,000 | — | exchange | Multiple | ↗ |
| 232 | CBUAE | 2021-01-31 | 45,758,333 | 11 banks | bank | Fine | ↗ |
| 233 | CBUAE | 2021-01-28 | 504,000 | — | exchange | Fine | ↗ |
| 234 | CBUAE | 2021-01-17 | — | — | other | Warning | ↗ |
| 235 | DFSA | 2020-12-29 | 642,250 | Gilles Rollet | fund manager | Multiple | ↗ |
| 236 | CBUAE | 2020-10-26 | 950,000 | — | exchange | Fine | ↗ |
| 237 | DFSA | 2020-09-17 | 605,550 | Mr Ashish Bhandari | other | Multiple | ↗ |
| 238 | DFSA | 2020-04-09 | 2,248,939 | La Tresorerie Limited | other | Fine | ↗ |
| 239 | DFSA | 2020-03-10 | 321,125 | — | — | Multiple | ↗ |
| 240 | CBUAE | 2020-03-03 | — | — | bank | Warning | ↗ |
| 241 | DFSA | 2020-02-24 | 385,350 | Enness Limited – DIFC Representative Office | broker | Fine | ↗ |
| 242 | DFSA | 2020-01-06 | 904,869 | Morgan Gatsby Limited (MGL) | fund manager | Fine | ↗ |
| 243 | ADGM | 2019-12-16 | 146,800 | Mr. Man Chung TSUI | broker | Multiple | ↗ |
| 244 | ADGM | 2019-12-16 | 1,174,400 | AT Capital Markets Limited | broker | Multiple | ↗ |
| 245 | DFSA | 2019-11-24 | — | — | — | Revocation | ↗ |
| 246 | CBUAE | 2019-11-19 | — | — | — | — | ↗ |
| 247 | DFSA | 2019-09-25 | 11,010,000 | Al Masah Capital Limited | fund manager | Fine | ↗ |
| 248 | DFSA | 2019-09-25 | 5,505,000 | Al Masah Capital Management Limited | fund manager | Fine | ↗ |
| 249 | DFSA | 2019-09-01 | — | Al Masah DIFC | fund manager | Revocation | ↗ |
| 250 | DFSA | 2019-09-01 | — | Al Masah DIFC | fund manager | Multiple | ↗ |