Page 236 - MOET ENGLISH PR REPORT - JULY 2025

7/29/25, 11:42 AM UAE Fines Firms Dh42m for Money Laundering Breaches
Last year, the government changed its laws to make them stronger against money
laundering, terrorism financing, and illegal organisations. This means stricter rules for
companies to follow.

They also formed a National Committee for Anti-Money Laundering and
Combating the Financing of Terrorism and Financing of Illegal Organisations.
This committee checks if all rules are being followed and plans how to make them
better.

What Does the International Community Say?

The International Monetary Fund (IMF) says that fighting money laundering and terrorism
financing is very important. If countries do not stop these crimes, it can damage their

economy and the global financial system. It also creates unsafe conditions in society.

What Recognition Has the UAE Received Recently?

Earlier this month, the European Union (EU) voted to remove the UAE from its list of
countries that were at high risk for money laundering and terrorism financing. This shows
that the UAE is making good progress.

Also, in February 2024, the Financial Action Task Force (FATF), which is the global
body fighting money laundering, removed the UAE from its “grey list.” This list includes
countries that need to make more efforts to stop money laundering and terrorism
financing. The UAE was put on the grey list in 2022 but worked hard to improve its
systems and was removed after two years.

Why Are Fines Important for Companies?

Ms Al Safi said that the main purpose of these fines is not just to punish companies. The

government wants to encourage companies to fix their problems and improve their
systems. This includes:

Making sure they do proper checks on their clients and money transactions (due

diligence).

Doing better risk assessments, which means finding out if their activities or clients
have any risk of being linked to illegal money.

Reporting any suspicious transactions to the government immediately.

How Does This Help the UAE?

By making these changes, companies will be able to follow the law properly and support

the government in stopping crimes like money laundering and terrorism financing. This
will:

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