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AML in UAE (Anti-Money Laundering)

AML (Anti-Money Laundering) is a mandatory system of measures to combat money laundering and terrorist financing (CFT) in the UAE. Non-compliance with AML requirements results in fines up to 5,000,000 AED, account blocking, and license revocation. MIRAD assists companies in complying with AML obligations: from registration in the goAML system to implementing internal policies and preparing for inspections.

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Who is required to comply with AML in the UAE?

  1. Financial institutions: banks, insurance companies, payment providers, currency exchangers, crypto operators (VASP).
  2. DNFBP (Designated Non-Financial Businesses and Professions) — companies in real estate, accounting, auditing, corporate services, and trading in valuables.
  3. Jewelry firms and sellers of precious metals/stones when accepting cash over 55,000 AED.
  4. Registrars of companies, trusts, and funds.

When is AML registration mandatory?

  • The company accepts cash payments of 55,000 AED and above.
  • Participates in transactions with real estate, assets, or shares.
  • Provides accounting, legal, or corporate services.
  • Engages in asset management on behalf of clients.

What are the consequences of non-compliance with AML?

  • Fines from 50,000 to 5,000,000 AED.
  • Blocking of corporate and personal bank accounts.
  • Suspension of license and inability to renew it.
  • Increased scrutiny from banks and government authorities.
  • Reputational risks and inclusion in High Risk lists.

HowTo: How to pass AML compliance in the UAE

  1. Determine if your company falls under the category of financial institutions or DNFBP.
  2. Register in the goAML system (Ministry of Economy portal).
  3. Appoint an MLRO (responsible for AML).
  4. Develop an internal AML/CFT policy tailored to the business specifics.
  5. Implement KYC procedures, transaction monitoring, and an STR log.
  6. Organize employee training on AML requirements.
  7. Conduct annual documentation updates and compliance audits.
  8. Be prepared for inspections from the Central Bank and Ministry of Economy.
AML in UAE with MIRAD

We will ensure registration in goAML, implement KYC and STR procedures, train employees, and protect your business from fines and blockages.

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What MIRAD does for your business

  • Company registration in the goAML system.
  • Appointment and training of MLRO (AML officer).
  • Development and implementation of internal AML policy.
  • Preparation of KYC procedures, STR logs, and forms for employees.
  • Support during requests and inspections from Central Bank and MOE.
  • Annual update of AML documents and staff training.
  • Consultations on transactions, compliance, and client structure.

Why choose MIRAD

  • 10+ years of experience with AML in the UAE and GCC.
  • Practice in 45+ Free Zones and all seven emirates.
  • Knowledge of real compliance officer requirements of banks.
  • Adaptation of AML policy to specific business.
  • Complete confidentiality and client data protection.
  • Assistance during international inspections (FATF, CRS, OECD).

FAQ: AML in the UAE

❓ Who is required to register in goAML?
✅ All companies in the DNFBP categories and financial institutions operating in the UAE.

❓ Is it necessary to implement AML for a small company?
✅ Yes, even small businesses must comply with rules when dealing with real estate, assets, or cash.

❓ What is an MLRO?
✅ Money Laundering Reporting Officer — the employee responsible for AML policy and reporting.

❓ How often should AML documents be updated?
✅ Annually, and also when there are changes in company structure or legislation.

❓ What are the penalties for AML violations?
✅ From 50,000 AED to 5,000,000 AED, including account blocking and license revocation.

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