AML Compliance Services Dubai

AML compliance in the UAE refers to the obligations of businesses to detect, prevent, and report money laundering and terrorist financing under UAE Federal Decree-Law No. 20 of 2018. Regulated entities must implement risk-based AML programmes including policies, customer due diligence, transaction monitoring, suspicious transaction reporting, and staff training.

AML compliance obligations apply to: (1) Financial institutions regulated by the CBUAE — banks, exchange houses, insurance companies, investment firms; (2) Designated Non-Financial Businesses and Professions (DNFBPs) — real estate agents, dealers in precious metals and stones, auditors, accountants, lawyers, notaries, and trust and company service providers; and (3) Virtual asset service providers (VASPs) regulated by VARA. Non-compliance carries fines of up to AED 5 million per violation.

DNFBPs (Designated Non-Financial Businesses and Professions) include real estate agents, dealers in precious metals and precious stones, auditors, accountants, tax advisors, lawyers, notaries, trust and company service providers, and dealers in high-value goods. DNFBPs are subject to full AML/CFT obligations under UAE law including risk assessments, CDD, record-keeping, and STR reporting.

Customer Due Diligence (CDD) is the process of identifying and verifying customers and understanding the business relationship. Enhanced Due Diligence (EDD) applies to higher-risk customers — such as Politically Exposed Persons (PEPs), customers from high-risk jurisdictions, or complex ownership structures — requiring deeper verification and ongoing monitoring. Both are mandatory for UAE regulated entities and DNFBPs.

An STR is a mandatory report filed via the UAE FIU's goAML portal when a business suspects a transaction may be related to money laundering or terrorist financing. All regulated entities and DNFBPs must file STRs promptly and maintain tipping-off confidentiality. Failure to file is a criminal offence in the UAE.

The MLRO (Money Laundering Reporting Officer) is the designated person responsible for receiving internal suspicion reports, evaluating them, and deciding whether to file an STR with the UAE FIU. UAE regulated entities and DNFBPs must appoint an MLRO and Deputy MLRO at senior management level. We provide outsourced MLRO advisory services for businesses that do not have an in-house compliance specialist.

Penalties for AML non-compliance under Federal Decree-Law No. 20 of 2018 include administrative fines of up to AED 5 million per violation, licence suspension or cancellation, public disclosure of violations, and criminal prosecution of responsible individuals. The UAE Ministry of Economy conducts regular AML inspections of DNFBPs.

The goAML portal is the UAE Financial Intelligence Unit's secure online platform for filing Suspicious Transaction Reports (STRs), Suspicious Activity Reports (SARs), and other mandatory AML reports. All UAE businesses with AML obligations must be registered on goAML. We assist clients with goAML registration, STR preparation, and ongoing reporting.

AML risk assessments should be conducted at least annually, and whenever there is a material change to the business — such as new products, new customer categories, new markets, or changes in ownership. Updates to FATF high-risk jurisdiction lists and UAE National Risk Assessment findings should also trigger a review.

We provide end-to-end AML compliance advisory: risk assessments, AML policies and procedures, CDD/EDD frameworks, goAML registration and STR support, outsourced MLRO advisory, AML health checks, regulatory inspection preparation, and staff training. Contact us at info@saifaudit.com or call +971 4 4518600.