E*Trade Fined for Money Laundering in UAE
Sunday, 01 May 2011

E*Trade Financial Corp has been fined $200,000 by a regulator in the United Arab Emirates for breaching anti-money laundering controls, the local regulator said on Sunday.

Dubai Financial Services Authority (DFSA), which is the regulator for the Nasdaq Dubai bourse, said it fined E*Trade for failing to obtain sufficient evidence of its clients' source of wealth and for not providing adequate address details for some of its clients.

No one at E*Trade could immediately be reached for comment.

 



  

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