DUBAI : The SCA announced that the penalised entity was found to have colluded with a foreign company to deceive investors and illegally seize client funds. The investigation revealed that the firm falsely claimed the foreign partner was licensed by the SCA, misleading the public and breaching several laws related to anti-money laundering, combating terrorism financing, and other regulatory standards.
The case has now been handed over to the competent judicial authorities for further legal proceedings.
For all the latest news from Oman and GCC, follow us on Twitter, Instagram and LinkedIn, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Read More
- Germany records nearly 10,000 heat-related deaths this year
- US military completes two-hour strikes on dozens of IRGC targets in Iran
- Russia charges Telegram founder Pavel Durov with ‘facilitating terrorism’, issues international arrest warrant
- Meta, BlackRock partner to build USD 14 billion Texas data center campus
- India at UNSC says “world’s focus on Strait of Hormuz” must not divert attention from Gaza
