How long must a DPMS keep AML records in the UAE?
A dealer in precious metals and stones must retain its AML records for at least five years. This covers records of all cash and financial transactions, customer due diligence documents, account and correspondence files, copies of identification documents, suspicious transaction reports and the results of any analysis carried out.
For transaction records the five-year period runs from the date the transaction was completed or the business relationship ended. For due diligence and monitoring records the period runs from the end of the relationship, the completion of an occasional transaction, or the conclusion of an inspection, investigation or court judgment, whichever is most recent. Records must be organised so that individual transactions can be reconstructed and made available to the authorities promptly on request. Reliable record-keeping is essential both for responding to FIU or supervisor queries and for demonstrating that AML controls were applied.
Legal Reference (UAE):
· Cabinet Resolution No. 134 of 2025 (Executive Regulations), Article 25 requires records to be kept for not less than five years.
· Federal Decree-Law No. 10 of 2025, Article 19 requires retention of transaction records and their availability to the authorities.
For more details, consult the full text of Cabinet Resolution 134 of 2025 or seek guidance from your AML compliance officer.