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Sovereign Corporate Services ME Limited
Sovereign Corporate Services ME Limited was fined US$32,000 for breaching AML rules by failing to verify Source of Wealth and obtain Senior Management approval for high-risk customers.
Date
2024-08-02
Entity type
other
Action type
Fine
Fine (as written)
US$32,000
Fine (normalised AED)
117,440
Personal fine
No
Regulations breached
AML Rule 8.4.1 (c) & (e) relating to SOW verification and Senior Management approval
Scraped at
2026-07-04T14:14:51.5521+00:00