What is the difference between a DPMSR and an STR in the UAE?
A DPMSR and an STR are both filed with the UAE Financial Intelligence Unit through goAML, but they serve different purposes. A Dealer in Precious Metals and Stones Report (DPMSR) is a threshold-based report: a dealer files it whenever it carries out a qualifying high-value cash or wire transaction of AED 55,000 or more, regardless of whether anything looks suspicious.
A Suspicious Transaction Report (STR) is suspicion-based. It must be filed whenever a business suspects, or has reasonable grounds to suspect, that funds or a transaction are linked to a crime, no matter the amount and even where the value is well below any threshold. The key distinction is the trigger: a DPMSR is driven by the size of the dealing, while an STR is driven by suspicion. A dealer may need to file both in relation to the same customer, and the obligation to report suspicion must be met without delay.
Legal Reference (UAE):
· Federal Decree-Law No. 10 of 2025, Article 18 requires suspicious transactions to be reported to the Financial Intelligence Unit without delay.
· Cabinet Resolution No. 134 of 2025, Article 3(3) sets the AED 55,000 threshold that drives the DPMSR.
For more details, consult the goAML reporting guidance or seek guidance from your AML compliance officer.