Compliance Radar
Who was sanctioned, and for what?
Fines, court rulings and incidents from Europe, North America, Latin America, Asia-Pacific and Middle East: 1,929 cases from 40 jurisdictions, each with an official source and checked against that source before publication. Filter by country, area of law and sector. Click a chart to drill down one level.
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Where?
by authority- Financial Services Regulatory Authority (ADGM) €535,738 100 % · 3 cases
- Virtual Assets Regulatory Authority (VARA), Dubai – 0 % · 2 cases
What for?
by action- Fine €535,738 100 % · 5 cases
Who?
by sectorAll sectors
When?
per quarter, by date of decision| Period | Cases | Total |
|---|---|---|
| Q4 2023 | 0 | – |
| Q1 2024 | 0 | – |
| Q2 2024 | 0 | – |
| Q3 2024 | 0 | – |
| Q4 2024 | 1 | €479,179 |
| Q1 2025 | 0 | – |
| Q2 2025 | 1 | €12,380 |
| Q3 2025 | 0 | – |
| Q4 2025 | 1 | €44,179 |
| Q1 2026 | 0 | – |
| Q2 2026 | 1 | – |
| Q3 2026 | 1 | – |
| Q4 2026 | 0 | – |
5 cases
24 Jul 2026 Shelbit General Trading L.L.CVARA sanctions Shelbit again for unlicensed crypto services, missing KYC and promotion Fine
Despite a cease-and-desist notice and enforcement action of 2 January 2025, the Virtual Assets Regulatory Authority (VARA, Dubai's virtual assets regulator) found that Shelbit General Trading L.L.C (Shelbit Exchange) continued to provide virtual asset services in and from Dubai without a licence, onboarded users without the mandatory KYC checks and promoted its services without authorisation. VARA again imposed fines of an undisclosed amount and ordered it to cease immediately; according to the regulator, the risk identified also concerned cross-border transactions with possible consequences for the integrity of the UAE financial system.
Disregarding a cease-and-desist order leads to further sanctions – the regulator keeps monitoring the market after the first action.
Compliance with cease-and-desist orders and KYC obligations
- Authority / court
- Virtual Assets Regulatory Authority (VARA), Dubai
- Area of law
- Money laundering and terrorist financing · Customer due diligence
- Legal basis
- Federal Decree-Law No. (10) of 2025 (AML/CFT/PF); Cabinet Resolution No. (111) of 2022; Dubai Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai; VARA Regulations and Rulebooks
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Repeat case
- yes
- Published
- 24 Jul 2026
- VARA: Notice of Fines – Shelbit General Trading L.L.C (24.07.2026) Press release of an authority
- VARA: Enforcement – Enforcement Actions (Einträge Shelbit General Trading L.L.C, 2026/07/24 und 2025/01/02) Enforcement database of an authority
- VARA Notice of Fines – Shelbit General Trading L.L.C (PDF, von vara.ae verlinkt) Press release of an authority
Checked against the official source on 3 Oct 2026 · Direct link
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17 Jun 2026 MX Global Ltd (MEXC)VARA fines MX Global (MEXC) for unlicensed crypto services and missing KYC Fine
According to investigations by the Virtual Assets Regulatory Authority (VARA, Dubai's virtual assets regulator), MX Global Ltd, which trades under the MEXC brand, provided broker-dealer and/or exchange services to customers in Dubai without a licence from 2022 to April 2026 and onboarded users without the KYC checks required by law. VARA imposed fines of an undisclosed amount and ordered the immediate cessation of all unlicensed activities in or from Dubai; other group companies were expressly not affected.
Serving customers in a market requires a licence there – and local KYC obligations must be met regardless.
Licensing requirement and KYC for cross-border crypto services
- Authority / court
- Virtual Assets Regulatory Authority (VARA), Dubai
- Area of law
- Money laundering and terrorist financing · Customer due diligence
- Legal basis
- Federal Decree-Law No. (10) of 2025 (AML/CFT/PF); Dubai Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai; Cabinet Resolution No. 111/2022; VARA Regulations and Rulebooks
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Mitigating circumstances
- Full cooperation, compliance with the cease-and-desist orders and a stated intention to apply for a VARA licence.
- Published
- 22 Jun 2026
- VARA: Notice of Fines – MX Global LTD (MEXC) (22.06.2026) Press release of an authority
- VARA: Enforcement – Enforcement Actions (Eintrag MX Holdings Ltd (MEXC), 2026/06/17) Enforcement database of an authority
- VARA Notice of Fines – MX Global LTD (MEXC) (PDF, von vara.ae verlinkt) Press release of an authority
Checked against the official source on 3 Oct 2026 · Direct link
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24 Nov 2025 FWS Group LtdADGM: allegedly 51,000 USD fine for business centre operator FWS Group over missing customer checks €44,179
The FSRA (Financial Services Regulatory Authority, the financial regulator of Abu Dhabi Global Market, ADGM) fined the operator of a business centre, registered as a company service provider, allegedly 51,000 USD for anti-money laundering failings between December 2022 and December 2023. The firm had not carried out a business risk assessment and could not show a risk assessment for any of its 104 customers (tenants), nor had it verified any of them, because its outsourced compliance provider treated only the external operator of the centre as a customer; in addition, after the money laundering reporting officer (MLRO) had been absent for a long period, a replacement was only appointed after about ten months and the regulator was not promptly informed. Without the 20% discount for early settlement the fine would have been 63,750 USD.
A firm that outsources operations and compliance remains itself responsible for due diligence on all of its own customers.
Who the customer is: due diligence duties when operations and compliance are outsourced
- Authority / court
- Financial Services Regulatory Authority (ADGM)
- Area of law
- Money laundering and terrorist financing · Customer due diligence
- Legal basis
- Section 232 FSMR 2015; AML Rules 4.1.1(1), 4.1.1(2)(a) und (d), 6.1.1, 7.1.1(1)(a) und (b), 7.1.2(1)(a), 8.3.1(1)(d), 8.3.2, 8.4.1(c), 12.1.1(1), 15.6.1(d)
- Action
- Fine
- Status of proceedings
- final
- Sector
- Other
- Repeat case
- no
- Mitigating circumstances
- No previous non-compliance, cooperation and a remediation programme; 20% discount for early settlement.
Original amount 51,000 USD, converted at the ECB reference rate of 24 Nov 2025.
- FSRA Final Notice an FWS Group Ltd vom 24. November 2025 Decision of an authority
- ADGM FSRA Regulatory Actions and Sanctions (Durchsetzungsliste) Enforcement database of an authority
Checked against the official source on 3 Oct 2026 · Direct link
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1 May 2025 MBK Auditing L.L.CFSRA (ADGM): allegedly USD 14,080 on audit firm MBK Auditing for AML failings €12,380
From September 2022 to November 2023 the audit firm registered in ADGM, subject to AML duties as a DNFBP, lacked an adequate business risk assessment, did not sufficiently examine customers' ownership structures and businesses, omitted a customer risk assessment in one case and did not appoint a new MLRO in time. After a 20% discount for early settlement the FSRA allegedly imposed USD 14,080 (otherwise USD 17,600).
Audit firms, as obliged entities, must also maintain their own risk assessment, customer due diligence and an MLRO.
AML duties of audit firms as DNFBPs
- Authority / court
- Financial Services Regulatory Authority (ADGM)
- Area of law
- Money laundering and terrorist financing · Customer due diligence
- Legal basis
- Section 232 Financial Services and Markets Regulations 2015 (ADGM); AML Rules 6.1.1, 7.1.1, 8.3.1, 8.3.2, 12.1.1 (ADGM AML Rules)
- Action
- Fine
- Status of proceedings
- final
- Sector
- Other
- Mitigating circumstances
- Early settlement (20% discount), full cooperation and substantial remediation.
Original amount 14,080 USD, converted at the ECB reference rate of 30 Apr 2025.
- FSRA (ADGM): Final Notice an MBK Auditing L.L.C vom 01.05.2025 (PDF) Decision of an authority
Checked against the official source on 3 Oct 2026 · Direct link
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13 Dec 2024 Aarna Capital LimitedADGM: allegedly 504,000 USD fine for broker Aarna Capital over KYC and monitoring failures €479,179
The FSRA (Financial Services Regulatory Authority, the financial regulator of Abu Dhabi Global Market, ADGM) fined the broker for professional clients allegedly 504,000 USD for inadequate anti-money laundering controls between June 2017 and January 2023. In a review of 42 client relationships the regulator found that twelve clients should have been rated high risk because of relevant risk factors, so enhanced due diligence and annual reviews did not take place; documentation, risk-based updating of customer data, transaction monitoring and procedures to detect suspicious activity were also inadequate. The regulator identified no specific instances of money laundering; without the 20% discount for early settlement the fine would have been 630,000 USD.
A risk rating that is too lenient undermines every downstream control, from enhanced due diligence to periodic review.
Customer risk rating and ongoing transaction monitoring
- Authority / court
- Financial Services Regulatory Authority (ADGM)
- Area of law
- Money laundering and terrorist financing · Customer due diligence
- Legal basis
- Section 232 FSMR 2015; AML Rules 4.1.1(1), 4.1.1(2)(a) und (d), 4.5.1(b), 4.5.3, 7.1.1, 8.1.2(1), 8.6.1(a), 14.2.1
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Mitigating circumstances
- No previous breaches of the AML rules (though earlier action over CRS reporting duties), cooperation and remediation including an external gap analysis (10% reduction); 20% discount for early settlement.
Original amount 504,000 USD, converted at the ECB reference rate of 13 Dec 2024.
- FSRA Final Notice an Aarna Capital Limited vom 13. Dezember 2024 Decision of an authority
- ADGM FSRA Regulatory Actions and Sanctions (Durchsetzungsliste) Enforcement database of an authority
Checked against the official source on 3 Oct 2026 · Direct link