Who supervises DNFBPs for AML compliance in the UAE?
DNFBPs are overseen by the Supervisory Authorities designated under UAE AML law. For most mainland DNFBPs the Ministry of Economy acts as the supervisor, while businesses licensed in the financial free zones are supervised by their own regulators. The supervisor is responsible for inspecting firms, assessing sector risk, and imposing penalties where obligations are breached.
Supervisory Authorities conduct both desk-based and on-site inspections, maintain statistics on the measures they take and the penalties they impose, and direct regulated firms to apply countermeasures against high-risk jurisdictions. A DNFBP should know which authority supervises it, because that authority sets registration expectations, issues sector circulars and handles enforcement.
Legal Reference (UAE):
· Federal Decree-Law No. 10 of 2025, Article 16 sets out the supervision, inspection and risk-assessment duties of the Supervisory Authorities.
· Federal Decree-Law No. 10 of 2025, Article 17 empowers the Supervisory Authority to impose administrative penalties.
For more details, consult the full text of Federal Decree-Law 10 of 2025 or seek guidance from your AML compliance officer.