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null Ministry of Economy and Tourism announces H1 2025 inspection results on private sector compliance with anti-money laundering laws

24 Jul 2025

Ministry of Economy and Tourism announces H1 2025 inspection results on private sector compliance with anti-money laundering laws

 

H.E. Safia Al-Safi: “The results underscore the significant progress achieved by the Ministry in strengthening its AML regulatory framework”

 

The Ministry of Economy and Tourism revealed the results of its anti-money laundering (AML) inspections for the first half of 2025, uncovering 1,063 compliance violations and imposing fines exceeding AED 42 million on non-compliant designated non-financial businesses and professions (DNFBPs). The inspections form part of the Ministry's continuing efforts to enhance the compliance levels within the private sector, in line with international best practices and assessment standards related to combating financial crimes.

The Ministry explained that violations were identified across all four supervised categories within the DNFBP sector. Traders of precious metals and gemstones accounted for 473 violations, resulting in AED 20 million in fines, while real estate brokerages were responsible for 495 violations, incurring penalties totaling AED 18.5 million. Additionally, corporate service providers and auditors faced 95 penalties, amounting to over AED 4 million.

In this context, H.E. Safia Hashem Al-Safi, Assistant Undersecretary for Commercial Control and Governance at the Ministry of Economy and Tourism, affirmed that these outcomes reflect the Ministry’s continued regulatory progress through a robust and sophisticated compliance framework. This framework is designed to ensure alignment with AML legislation across the DNFBP sector and is implemented through a structured system that combines desk-based reviews with targeted field inspections.

“The inspection campaigns represent a key pillar of our strategy to foster a transparent and well-governed business environment in the UAE. By implementing proactive monitoring mechanisms to counter money laundering and terrorism financing risks, we are reinforcing the UAE’s reputation as a secure, globally compliant economic hub that upholds the highest international standards,” said H.E. Safia Al-Safi.

H.E. explained that the inspection teams identified violations based on precise technical indicators and regulatory benchmarks. She noted that administrative penalties serve as corrective tools, encouraging businesses to enhance their compliance frameworks - particularly in areas such as due diligence protocols, risk assessment methodologies, and suspicious transaction reporting mechanisms.

Through these efforts, the Ministry of Economy and Tourism is promoting a culture of preventive compliance and strengthening institutional awareness across regulated sectors. The Ministry continues to conduct field inspections and performance evaluations to ensure full adherence to all applicable legislative requirements.

The Ministry urged all AML-regulated entities to use this period to reinforce their internal compliance systems and fulfill all regulatory obligations. It reaffirmed its commitment to ongoing inspection campaigns conducted under a rigorous, internationally aligned oversight framework.

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