24-07-2025
UAE: Dh42 million in fines to private sector firms under anti-money laundering laws
More than Dh42 million in administrative fines have been issued during the first half of 2025 following inspections targeting private sector firms that failed to comply with anti-money laundering (AML) regulations, the Ministry of Economy and Tourism stated on Thursday.
A total of 1,063 violations were recorded across non-financial businesses and professions, including precious metals and gemstones trading, real estate brokerage, corporate service providers, and auditors.
Of the total, 473 violations were detected in the precious metals and gemstones sector, leading to fines worth Dh20 million. Real estate brokers faced 495 violations amounting to nearly Dh18.5 million. Another 95 violations, worth over Dh4 million, were found among corporate service providers and auditors.
The Ministry of Economy and Tourism said the fines are part of ongoing efforts to strengthen regulatory oversight and push firms to align with the country's AML laws.
'These results reflect how much progress we've made in upgrading our inspection system to ensure stronger compliance with financial crime legislation,' said Safia Hashem Al Safi, Assistant Undersecretary for Commercial Control and Governance.
She said the penalties aim to drive companies to fix internal shortcomings, apply proper due diligence, and improve risk evaluations. Violations were flagged using specific technical indicators and regulatory benchmarks.
The ministry said it will continue field and desk inspections and urged firms to use this period to improve internal controls and avoid future penalties.
'The UAE is working to reinforce its position as a trusted economic hub, aligned with international standards on governance and AML compliance,' Al Safi added.
