Can a UAE accounting firm invoke professional secrecy to withhold records from the AML supervisor?
No. Professional secrecy, banking secrecy and contractual confidentiality obligations cannot be relied on to block the operation of the UAE AML framework. Where the supervisory authority, the Financial Intelligence Unit or a competent authority requests customer files, due diligence records or transaction data, an accounting or audit firm must produce them. A confidentiality clause in an engagement letter does not override the statutory duty.
The same principle applies to the sharing of information between reporting entities in defined circumstances and to the exchange of information within a financial group. Firms sometimes assume that the duty of confidentiality owed to an audit client sits above the AML regime. It does not. The framework treats disclosure to the authorities as a lawful and protected act, and no criminal, civil or administrative liability attaches to a firm or its staff for reporting in good faith.
Practically, firms should write this into their engagement letters so clients understand at the outset that records may be shared with regulators, and should ensure record retention systems allow a complete file to be produced promptly on request rather than reconstructed after the fact.
Legal Reference (UAE):
· Cabinet Resolution No. 134 of 2025, Article 42 — banking secrecy, professional secrecy and contractual liability may not be invoked to prevent application of the AML framework
· Federal Decree-Law No. 10 of 2025, Article 37 — no liability for reporting in good faith
For more details, consult the full text of Federal Decree-Law No. 10 of 2025 or seek guidance from your AML compliance officer.