Important Update: Extended Deadline for AML Risk Assessment Submission

Dear DNFBP Business Owners,

The UAE Ministry of Economy has announced an important extension for the submission of the annual risk assessment related to Money Laundering (AML) and Terrorism Financing (TF) for the Designated Non-Financial Businesses and Professions (DNFBP) sector. This extended deadline ensures all businesses under the DNFBP category remain compliant with national regulations.

What You Need to Know

• Who Must Participate?

All companies operating in DNFBP sectors must participate in the risk assessment. These sectors include:

1. Real Estate Agents and Brokers
2. Dealers in Precious Metals and Stones
3. Auditors and Accountants
4. Lawyers, Legal Consultants, and Notaries
5. Trust and Corporate Service Providers (CSPs)
6. Company Formation Agents
7. Tax Advisors
8. Consultants Offering Business or Legal Advisory Services
9. Providers of Virtual Asset Services (VASPs)
10. Art Dealers or Galleries involved in high-value art transactions

• Extended Deadline

The new deadline for submitting your data is January 13, 2025.

• Notifications

Notifications have already been sent to your registered email address. Ensure you check and act promptly to avoid non-compliance penalties.

Why It’s Crucial

This data collection is key to maintaining financial transparency and protecting your business from potential legal violations. Compliance helps create a safer business environment and prevents sanctions.

How AMCA Can Help

We offer expert assistance to ensure your compliance with the Ministry of Economy’s requirements:

• Preparation and submission of risk assessment reports
• AML/TF compliance consultations
• Risk mitigation strategies to avoid sanctions

Take Action Now!

Don't wait until the last minute—contact AMCA today for professional support with your AML risk assessment submission and avoid fines.

Schedule a Free 30-minute Consultation Now!

For any further clarifications, contact AMCA