Which authority conducts AML risk assessments of DNFBPs in the UAE?
Under UAE AML law, the relevant Supervisory Authority is responsible for assessing the likelihood of money laundering, terrorist financing and proliferation financing occurring within the sectors it supervises, including designated non-financial businesses and professions (DNFBPs). For most DNFBPs, such as real estate agents, dealers in precious metals and stones, corporate service providers, accountants and auditors, the Ministry of Economy is the supervisory and licensing authority, while lawyers and notaries fall under the Ministry of Justice, and free-zone entities may sit with the DFSA or ADGM FSRA.
These authorities carry out sectoral risk assessments, supervise and inspect firms, and take enforcement action. This is separate from each DNFBP’s own duty to perform an entity-level risk assessment.
Legal Reference (UAE):
· Federal Decree-Law No. 10 of 2025, Article 16(1) and 16(2) — Supervisory Authorities assess sector risk and carry out desk-based and field inspections.
· Federal Decree-Law No. 10 of 2025, Article 19(1)(a) — each DNFBP must also conduct its own risk assessment.
For more details, consult the full text of Federal Decree-Law No. 10 of 2025 or seek guidance from your AML compliance officer.