Who needs to comply with AML?
The following entities are subject to anti-money laundering (AML) laws in UAE:
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Financial Institutions
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Insurance Companies
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Virtual Asset Services Providers (VASPs)
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Designated Non-Financial Businesses and Professions such as:
- Real Estate Agents and Brokers
- Dealers in Precious Metals and Stones
- Trust and Corporate Service Providers
- Lawyers, Notaries, and Other Independent Legal Professionals
- Auditors and Independent Accountants
To understand the AML compliance requirements for these entities, check out our guide here: