How does the UAE 2024 National Risk Assessment affect DNFBPs?
The UAE National Risk Assessment is the country-level analysis of where money laundering, terrorist financing, and proliferation financing risks are concentrated. A DNFBP is expected to read across the findings that relate to its sector and feed them into its own enterprise-wide risk assessment, policies, and controls. In other words, the national picture should shape the firm-level response.
For DNFBP sectors such as precious metals and stones and real estate, which are rated high risk, this means paying particular attention to cash intensity, complex ownership, and cross-border exposure. Supervisors expect entities to show that they have considered the assessment and acted on it, and failure to act on National Risk Assessment findings is a specific ground for penalty.
Legal Reference (UAE):
· Federal Decree-Law No. 10 of 2025, Article 19 - requires the risk-based approach to take account of the outcomes of the national risk assessment.
· Cabinet Resolution No. 134 of 2025 (Executive Regulations), Article 5 - controls must be proportionate to assessed risk.
For more details, consult the full text of Federal Decree-Law No. 10 of 2025 or seek guidance from your AML compliance officer.