What penalties can a UAE real estate broker face for AML non-compliance?
A UAE real estate broker that breaches the AML/CFT rules faces administrative penalties imposed by its supervisor, the Ministry of Economy. These range from a written warning to fines of between AED 10,000 and AED 5,000,000 per violation, and can extend to restricting the powers of managers, suspending or barring the activity, and revoking the licence. Fines can be increased for repeat violations within a year.
Separately, where individuals are involved in actual money laundering, the criminal courts can impose imprisonment of one to ten years and fines up to AED 5,000,000 for natural persons, with far higher fines for legal persons. Non-compliance failures such as not filing required reports or not applying CDD are most commonly dealt with through the administrative penalty regime.
Legal Reference (UAE):
· Federal Decree-Law No. 10 of 2025, Article 17 — administrative penalties from AED 10,000 up to AED 5,000,000 per violation.
· Federal Decree-Law No. 10 of 2025, Article 26 — criminal penalties for the money laundering offence.
For more details, consult the full text of Federal Decree-Law No. 10 of 2025 or seek guidance from your AML compliance officer.