What AML penalties can accountants and auditors face in the UAE?
UAE accountants and auditors who breach their AML/CFT obligations can face administrative penalties imposed by their supervisor, which range from warnings and fines to restrictions on activity and, in serious cases, suspension or withdrawal of licence. Administrative fines under the federal AML law can reach several million dirhams per violation, and separate criminal liability applies where a professional actively participates in a money laundering offence.
Common triggers for penalties include failure to register on goAML, failure to carry out customer due diligence, failure to file suspicious transaction reports, weak or absent internal controls, and inadequate record-keeping. Because auditors hold a position of trust, supervisors treat compliance failures seriously. Firms reduce their exposure by maintaining a documented, tested programme and by ensuring the compliance officer acts on red flags promptly.
Legal Reference (UAE):
· Federal Decree-Law No. 10 of 2025, Article 17 — provides for administrative sanctions and fines for breaches of AML/CFT obligations.
· Federal Decree-Law No. 10 of 2025, Article 26 — sets criminal penalties for those who commit the crime of money laundering.
For more details, consult the full text of Federal Decree-Law No. 10 of 2025 or seek guidance from your AML compliance officer.