When must a regulated entity file a suspicious transaction report in the UAE?
A suspicious transaction report must be filed whenever a financial institution, DNFBP or virtual asset service provider suspects, or has reasonable grounds to suspect, that a transaction or funds represent proceeds of crime or are linked to money laundering, terrorist financing or proliferation financing. The obligation applies regardless of the amount involved.
The report must be made to the Financial Intelligence Unit without delay and directly, providing a detailed account of the transaction and the parties involved through the goAML electronic system. Confidentiality provisions cannot be invoked to avoid reporting, and the entity must supply any further information the FIU requests. A narrow exemption exists for lawyers, notaries and independent legal auditors where the information is protected by professional secrecy. Prompt, complete filing is critical, because failure to report carries criminal liability.
Legal Reference (UAE):
· Federal Decree-Law No. 10 of 2025, Article 18 — requires immediate reporting of suspicious transactions to the FIU
· Financial Intelligence Unit / goAML — reporting platform
For more details, consult the full text of Federal Decree-Law No. 10 of 2025 or seek guidance from your AML compliance officer.