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Industries

AML compliance by industry in the UAE

The same type of firm can be supervised by different regulators depending on where it is licensed. Choose yours to see who supervises it, where the money laundering risk sits and what supervisors expect. There are 37 firm types, grouped below.

Prefer to start from the regulator? Browse by regulator

LFIs

Licensed financial institutions

DNFBPs

Designated non-financial businesses and professions

VASPs

Virtual asset service providers

  • Advisory Services
  • Broker-Dealer Services
  • Custody Services
  • Lending and Borrowing Services
  • VA Management and Investment Services
  • VA Transfer and Settlement Services
  • Virtual Assets Issuance

Banking and finance

Banks, finance companies and investment companies that take deposits, lend and move money.

BanksCross-border flows through layered corporate customersRead the page Finance companiesLoans repaid early or by someone other than the borrowerRead the page Investment companiesLarge investments from wealth that is hard to traceRead the page

Payments and money services

Exchange houses, payment providers and other businesses that move value for customers.

Exchange houses and money service businessesCash remittances split across many senders and receiversRead the page Payment service providersFast, high-volume payments for merchants and users at a distanceRead the page Payment token service providersValue that moves quickly and across borders on open networksRead the page Stored value facilitiesAnonymous or lightly checked cards and wallets passed between peopleRead the page Card scheme operatorsMembers and merchants with weak controls using the networkRead the page Registered hawala providersValue moved by settlement between brokers, with little formal traceRead the page

Virtual assets

Businesses that deal in, hold or exchange virtual assets on behalf of customers.

Virtual asset service providersFast cross-border transfers to wallets whose owners are unknownRead the page

Insurance

Insurers, reinsurers and the agents and brokers who sell and place cover.

Insurance and reinsurance companiesLife and investment-linked policies bought, surrendered or cancelled earlyRead the page Insurance agents, brokers and related firmsPremiums and refunds passing through third partiesRead the page

Investment and securities

Firms that manage, advise on, hold or arrange investments for clients.

Investment firms, brokers and dealersTrading and transfers used to layer funds and disguise ownershipRead the page Asset managers, fund managers and portfolio managersInvestors whose identity or funds are hidden behind structuresRead the page Investment advisersClients seeking advice to place funds whose origin is unclearRead the page CustodiansAssets and settlements for clients whose ultimate owners are not visibleRead the page Trust service providersOwnership and benefit separated across settlors, trustees and beneficiariesRead the page Crowdfunding firms and operatorsFake campaigns and funders who use the platform to move moneyRead the page Fund administratorsInvestor checks done on behalf of funds that are not fully testedRead the page Single family officesConcentrated family wealth moved through layered structuresRead the page Listing and financial advisersIssuers and investors whose owners and funds are not clearRead the page

Market infrastructure and commodities

Exchanges, clearing and settlement bodies, and commodity trading businesses.

Exchanges and market institutionsMembers, issuers and trading used to disguise the source of fundsRead the page Clearing houses, central counterparties and depositoriesMembers and accounts used to move assets and cash without a clear ownerRead the page Commodity brokersTrade-based laundering through mis-priced and mis-described goodsRead the page Credit rating agenciesRated entities with hidden owners, and fees paid by third partiesRead the page RegistrarsRegisters that hide the real owner behind nominees or false detailsRead the page

Designated businesses and professions

Dealers, agents and professionals that the AML framework treats as gatekeepers.

Real estate developers and brokersLarge purchases funded in cash, crypto or through companiesRead the page Precious metals and stones dealersCash purchases and gold of unclear originRead the page High-value goods dealersExpensive goods bought with funds of unclear origin and resoldRead the page Law firms, lawyers and notariesLegal work and client accounts used to give transactions credibilityRead the page Accountants and accounting firmsBooks, structures and advice used to make illicit funds look realRead the page Auditors and audit firmsClients whose accounts hide the true source or use of fundsRead the page Insolvency firms and practitionersAssets and funds handled during a restructuring or liquidationRead the page Company and corporate service providersCompanies and structures used to hide who really owns assetsRead the page Real estate developers (ADGM)Large property transactions used to place and layer illicit fundsRead the page Business centres (ADGM)Front companies using a legitimate address to appear credibleRead the page

Gaming

Licensed commercial gaming operators.

Commercial gaming operatorsDeposits and play used to convert funds into winnings or refundsRead the page
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