The Dubai Financial Services Authority fined Deutsche Bank AG Dubai the equivalent of US $2.3 million (UAE Dirham 8.4 million) for not meeting its standards regarding governance, systems and controls, as well as compliance arrangements and anti-money laundering processes. Moreover, at various times from January 1, 2011, to January 22, 2014, Deutsche Bank represented to DFSA that its Private Wealth Management business solely referred clients in Dubai to other Deutsche Bank entities outside of Dubai when in fact the business was advising and handling customers within Dubai, said DFSA. As a result, DFSA also charged Deutsche Bank with providing DFSA with false information about its activities in Dubai, and not promptly correcting the false information.