Page 34 - MOET ENGLISH PR REPORT - JULY 2025

Press Release

Ministry of Economy and Tourism announces H1 2025 inspection results

on private sector compliance with anti-money laundering laws

H.E. Safia Al-Safi: “The results underscore the significant progress achieved
by the Ministry in strengthening its AML regulatory framework”

Abu Dhabi, xx July 2025 - The Ministry of Economy and Tourism revealed the results of its anti-money
laundering (AML) inspections for the first half of 2025, uncovering 1,063 compliance violations and
imposing fines exceeding AED 42 million on non-compliant designated non-financial businesses and
professions (DNFBPs). The inspections form part of the Ministry's continuing efforts to enhance the
compliance levels within the private sector, in line with international best practices and assessment
standards related to combating financial crimes.

The Ministry explained that violations were identified across all four supervised categories within the
DNFBP sector. Traders of precious metals and gemstones accounted for 473 violations, resulting in AED
20 million in fines, while real estate brokerages were responsible for 495 violations, incurring penalties
totaling AED 18.5 million. Additionally, corporate service providers and auditors faced 95 penalties,
amounting to over AED 4 million.

In this context, H.E. Safia Hashem Al-Safi, Assistant Undersecretary for Commercial Control and
Governance at the Ministry of Economy and Tourism, affirmed that these outcomes reflect the Ministry’s
continued regulatory progress through a robust and sophisticated compliance framework. This
framework is designed to ensure alignment with AML legislation across the DNFBP sector and is
implemented through a structured system that combines desk-based reviews with targeted field
inspections.

“The inspection campaigns represent a key pillar of our strategy to foster a transparent and well-governed
business environment in the UAE. By implementing proactive monitoring mechanisms to counter money
laundering and terrorism financing risks, we are reinforcing the UAE’s reputation as a secure, globally
compliant economic hub that upholds the highest international standards,” said H.E. Safia Al-Safi.

H.E. explained that the inspection teams identified violations based on precise technical indicators and
regulatory benchmarks. She noted that administrative penalties serve as corrective tools, encouraging
businesses to enhance their compliance frameworks - particularly in areas such as due diligence
protocols, risk assessment methodologies, and suspicious transaction reporting mechanisms.

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