What is a DPMSR and when must a dealer in precious metals file it?
A DPMSR is the Dealers in Precious Metals and Stones Report, a dedicated report filed on the goAML portal by dealers in the sector. It is separate from a suspicious transaction report and is triggered by the value of a transaction rather than by suspicion. A dealer must submit a DPMSR when it carries out a cash transaction of AED 55,000 or more with a customer, whether a single dealing or several linked dealings.
The report captures the customer, the counterparty, and the details of the transaction, and must be filed at the time the funds are received, including where payment is made in instalments that meet the threshold. The dealer must retain a copy of the report and its supporting documents for at least five years.
Legal Reference (UAE):
· Cabinet Resolution No. 134 of 2025 (Executive Regulations), Article 3(3) - the AED 55,000 cash transaction trigger for the sector.
· Cabinet Resolution No. 134 of 2025 (Executive Regulations), Article 25 - record retention of at least five years.
For more details, consult the UAE Financial Intelligence Unit at fiu.gov.ae or seek guidance from your AML compliance officer.