On 10 June 2025, the UAE Central Bank imposed fines totalling AED 339 million for anti-money laundering (AML) violations, including individual penalties of AED 3.5 million and AED 2.62 million. These penalties extend beyond the banking sector and reinforce the zero-tolerance approach of both the Central Bank (CBUAE) and the Dubai Financial Services Authority (DFSA) towards money laundering, in line with international compliance standards.
Recent amendments under Federal Decree-Law No. 7 of 2024 (amending Decree-Law No. 20 of 2018) established a National Committee and Supreme Committee to coordinate the UAE’s AML and counter-terrorist financing (CTF) strategy. These bodies are tasked with proposing legislation, monitoring enforcement, and aligning UAE frameworks with global standards.
On 28 May 2025, the CBUAE fined two foreign banks a total of AED 18.1 million for AML breaches. New guidance now requires a risk-based approach, timely reporting via goAML within 35 days, stricter internal controls, and enhanced customer due diligence. The DFSA continues to enforce similar standards within the DIFC.
Financial institutions, exchange houses, and other regulated entities should review their AML frameworks, ensure that staff training is current, and verify historical compliance. Independent AML audits and testing of reporting systems are strongly advised. Repeat violations risk heavy penalties, reputational damage, and licence revocation.
Get in Touch
For more information on how any of these developments may affect your organisation or your clients, please contact Suneer Kumar, Head of Corporate Practice on suneer@alsuwaidi.ae and Vida Grace Serrano, Corporate Senior Associate on Vida@alsuwaidi.ae.
Alsuwaidi & Company’s corporate team advises on a wide range of matters including regulatory compliance, investment structuring, M&A, employment, and tax strategy. We support multinational and regional businesses across sectors with practical, commercially grounded legal guidance.