Are local bank transfers between UAE accounts reportable under the DPMSR rules?
Generally, no. A transfer of funds between two accounts held at the same bank inside the UAE is not treated as a designated transaction for Dealers in Precious Metals and Stones Report (DPMSR) purposes. The DPMSR regime is aimed at cash dealings and international wire transfers, which carry higher money-laundering risk.
The designated transactions that must be reported are cash transactions of AED 55,000 or more for any customer, and, for corporate customers, cash or international wire transfers of AED 55,000 or more. A purely domestic same-bank transfer falls outside this list. However, this exclusion is narrow and does not switch off the dealer’s wider obligations. If a domestic transfer forms part of an arrangement that gives reasonable grounds for suspicion, the dealer must still file a Suspicious Transaction Report, which has no monetary threshold and applies to any transaction whatever the payment channel.
Dealers should not treat the DPMSR exclusion as a safe harbour. Ongoing monitoring, sanctions screening and customer due diligence continue to apply to every business relationship.
Legal Reference (UAE):
· Federal Decree-Law No. 10 of 2025, Article 18(1) — duty to report suspicious transactions to the FIU regardless of value.
· Cabinet Resolution No. 134 of 2025, Article 6 — customer due diligence and ongoing monitoring obligations.
For more details, consult the full text of Federal Decree-Law No. 10 of 2025 or seek guidance from your AML compliance officer.