What sanctions screening obligations apply to DNFBPs in the UAE?
A DNFBP must implement targeted financial sanctions without delay. This means screening customers and beneficial owners against the UAE Local Terrorist List and the United Nations Consolidated List, and applying any freezing measures immediately when a match is found. Screening should be carried out at onboarding and on an ongoing basis, because listings change and existing customers can become designated.
Where a DNFBP identifies a confirmed match, it must freeze the relevant funds without prior notice to the customer, refrain from dealing with the funds, and notify the Executive Office and the supervisory authority within the required timeframe. Failure to apply sanctions obligations is treated as a serious violation.
Legal Reference (UAE):
· Federal Decree-Law No. 10 of 2025, Article 19 - requires immediate implementation of instructions on targeted financial sanctions.
· Cabinet Resolution No. 74 of 2020 - regulates the terrorist lists and implementation of UN Security Council resolutions.
For more details, consult the full text of Federal Decree-Law No. 10 of 2025 or seek guidance from your AML compliance officer.