The UAE Ministry of Economy has intensified enforcement of anti-money laundering regulations across designated non-financial sectors, including real estate brokers, precious metals and stones dealers, and virtual asset service providers.
Authorities have issued more than AED 130 million in fines since late 2022, signalling a stronger compliance push ahead of the country’s upcoming Financial Action Task Force review.
Regulators have increased inspections and oversight, placing greater emphasis on customer due diligence, identification of beneficial ownership, monitoring of politically exposed persons, and timely reporting through the goAML platform. Businesses are expected to strengthen internal controls and maintain robust transaction monitoring systems.
Recent regulatory updates also require virtual asset firms to appoint compliance officers, enhance sanctions screening and adhere to international travel rule standards. Non-compliance may result in financial penalties, licence suspension or further legal action, reinforcing the UAE’s commitment to global AML standards.
