US DoJ announced that the Dubai-based Wall Street Exchange will pay over $9.2 m to settle a bank fraud investigation

The company admitted responsibility for past actions of its former executives including failing to disclose ML violations and misrepresenting facts to Bank between 2015 and 2018. Despite regulatory actions against its subsidiary, Forex, WSE maintained banking relationships by misreporting the company’s compliance status. The case highlights the importance of robust AML measures, with WSE agreeing to enhance its compliance program…