• AML-10 AML-10 Enforcement Measures

    • AML-10.1 AML-10.1 Regulatory Penalties

      • AML-10.1.1

        Without prejudice to any other penalty imposed by the CBB Law, the AML Law No. 4 or the Penal Code of the Kingdom of Bahrain, failure by a Capital Market Licensees to comply with this Module or any direction given hereunder shall result in the levying by the CBB, without need of a court order and at the CBB's discretion, of a fine of up to BD20,000.

        Amended: January 2022
        Added: October 2010

      • AML-10.1.2

        Module MIE provides further information on the CBB's general approach to enforcement and the criteria taken into account prior to imposing such fines (see section MIE-3.1). Other enforcement measures may also be applied by the CBB in response to a failure by a Capital Market Licensees to comply with this Module; these other measures are also set out in Module MIE.

        Amended: January 2022
        Added: October 2010

      • AML-10.1.3

        The CBB will endeavour to assist Capital Market Licensees to interpret and apply the requirements of this Module. Capital Market Licensees may seek clarification on any issue by contacting the Compliance Directorate (see section AML-4.3 for contact details).

        Amended: January 2022
        Added: October 2010

      • AML-10.1.4

        Without prejudice to the CBB's general powers under the law, the CBB may amend, clarify or issue further directions on any provision of this Module from time-to-time, by notice to its Capital Market Licensees.

        Amended: January 2022
        Added: October 2010