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million. Another 95 violations, worth over Dh4 million, were found among corporate service
providers and auditors.

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The Ministry of Economy and Tourism said the fines are part of ongoing efforts to strengthen
regulatory oversight and push firms to align with the country’s AML laws.

“These results reflect how much progress we’ve made in upgrading our inspection system to ensure
stronger compliance with financial crime legislation,” said Safia Hashem Al Safi, Assistant
Undersecretary for Commercial Control and Governance.

She said the penalties aim to drive companies to fix internal shortcomings, apply proper due
diligence, and improve risk evaluations. Violations were flagged using specific technical indicators
and regulatory benchmarks.

The ministry said it will continue field and desk inspections and urged firms to use this period to
improve internal controls and avoid future penalties.
“The UAE is working to reinforce its position as a trusted economic hub, aligned with international
standards on governance and AML compliance,” Al Safi added.

https://www.khaleejtimes.com/business/uae-dh42-million-in-fines-to-private-sector-firms-under-
anti-money-laundering-laws