What are the proliferation financing reporting obligations for DNFBPs in the UAE?
Designated non-financial businesses and professions in the UAE have clear obligations relating to proliferation financing, which is the provision of funds or services used to develop or spread weapons of mass destruction. If a DNFBP suspects, or has reasonable grounds to suspect, that funds are proceeds of crime or may be used for money laundering, terrorist financing, or proliferation financing, it must promptly file a suspicious transaction report with the Financial Intelligence Unit through the goAML portal, regardless of the transaction value.
Alongside reporting, DNFBPs must implement targeted financial sanctions relating to proliferation. That means registering on the Executive Office notification system, screening against the sanctions lists, freezing without delay on a confirmed match, and submitting fund freeze or partial name match reports as appropriate. DNFBPs should also incorporate proliferation financing risk into their business risk assessment, drawing on the Executive Office guidance for counter proliferation financing.
Legal Reference (UAE):
· Federal Decree-Law No. 10 of 2025, Article 18 - requires DNFBPs to report suspicion of proceeds, money laundering, terrorist financing, or proliferation financing to the FIU without delay.
· Cabinet Resolution No. 74 of 2020, Article 21 - sets out the registration, screening, freezing, and reporting obligations for proliferation-related sanctions.
For more details, consult the full text of Federal Decree-Law No. 10 of 2025 or seek guidance from your AML compliance officer.