How long must a DNFBP keep AML records in the UAE?
A DNFBP must keep all records, documents, and data relating to transactions and business dealings for at least five years. The same minimum period applies to records obtained through customer due diligence, ongoing monitoring, account files, business correspondence, copies of identity documents, suspicious transaction reports, and any analysis carried out.
The five-year clock runs from the most recent of several events, including the completion of the transaction, the end of the business relationship, the completion of a supervisory inspection, the completion of an investigation, or the issuance of a final court judgment. Records must be organised so they can be produced promptly when a competent authority asks for them.
Legal Reference (UAE):
· Cabinet Resolution No. 134 of 2025 (Executive Regulations), Article 25 - sets the minimum five-year record retention period and how it is calculated.
· Federal Decree-Law No. 10 of 2025, Article 19 - obliges entities to retain records and make them available to authorities.
For more details, consult the full text of Cabinet Resolution No. 134 of 2025 or seek guidance from your AML compliance officer.