What is a Dealers in Precious Metals and Stones Report (DPMSR) and when must it be filed?
A Dealers in Precious Metals and Stones Report (DPMSR) is a mandatory report that a UAE dealer must file on the Financial Intelligence Unit’s goAML portal whenever it carries out a designated transaction with a customer. It is distinct from a Suspicious Transaction Report: a DPMSR is triggered by the value and type of the transaction rather than by any suspicion of wrongdoing.
A DPMSR must be filed where a dealer performs, for a customer, a cash transaction (or, for corporate customers, a cash or international wire transaction) equal to or exceeding AED 55,000, whether as a single dealing or several linked dealings. The report should be submitted within two weeks of the qualifying transaction. Filing a DPMSR does not remove the separate duty to file a Suspicious Transaction Report where grounds for suspicion exist.
Dealers must register on goAML before they can report, keep supporting records, and apply customer due diligence to every reportable dealing. Failure to file is an administrative violation.
Legal Reference (UAE):
· Federal Decree-Law No. 10 of 2025, Article 20 — no person may carry on a DNFBP activity without registration or enrolment with the competent authority.
· Cabinet Resolution No. 134 of 2025, Article 8 — customer due diligence and record-keeping obligations underpinning designated-transaction reporting.
For more details, consult the full text of Federal Decree-Law No. 10 of 2025 or seek guidance from your AML compliance officer.