Page 235 - MOET ENGLISH PR REPORT - JULY 2025

7/29/25, 11:42 AM UAE Fines Firms Dh42m for Money Laundering Breaches
According to the Ministry of Economy and Tourism, a total of 1,063 breaches were found
in just six months, from January to the end of June this year. These breaches were divided
into four main groups. The state news agency WAM shared this information on Thursday.

Which Companies Broke the Rules the Most?

Metals and Gemstones Sector:
Companies dealing with metals and gemstones, like gold and diamonds, had 473
breaches. These breaches led to Dh20 million in fines.

Real Estate Brokerages:
Real estate companies, which help people buy and sell homes or land, had 495
breaches. They were fined Dh18.5 million.

Corporate Service Providers:
These are companies that help other businesses with services like paperwork,
licensing, or setting up. They had 95 breaches, leading to fines of more than Dh4
million.

Why is the UAE Taking Such Strict Action?

Ms Safia Al Safi, the Assistant Under-Secretary for Commercial Control and Governance
at the Ministry, said that these actions are part of the UAE’s efforts to make its regulatory
system stronger. The ministry has created an “advanced methodology” to make sure
companies follow the rules properly. This means they have made better systems to check if
businesses are working in the right way.

How Does the Government Check Companies?

The ministry has created a “clear mechanism” for on-site inspections. This means that

officials visit companies directly to check their records and activities. They want to build a
business environment that is open and honest. By doing this, they can also find out quickly
if a company is involved in risky activities like money laundering or supporting terrorism.

What Steps Has UAE Taken Earlier?

Over the past few years, the UAE has been working hard to stop illegal money activities.
Here are some key steps they took:

In September 2024, the UAE announced a nationwide action plan to fight money
laundering and terrorism financing. They called this plan the 2024-2027 National
Strategy for Anti-Money Laundering and Countering the Financing of Terrorism
and Proliferation Financing.

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