01
Cash that avoids the threshold
A buyer structures payment into separate amounts that each fall just below the level that would trigger a report.
Risk indicators
What suspicious looks like at the counter
Cash-intensive trade in high-value goods is a known money laundering channel. The warning signs are practical and visible at the counter. Train your team to notice and record them.
02
Volume without a business reason
A customer buys high-value goods in quantities that do not match any stated personal or commercial purpose.
03
Indifference to price or quality
The buyer shows little interest in the item itself, only in converting cash into a portable store of value.
04
Unclear source of funds
A customer cannot or will not explain where a large cash payment came from.
05
Third-party payment
Someone other than the buyer settles the bill, with no clear relationship to the purchase.
06
Rapid resale or return
Goods are bought and quickly sold back or exchanged, moving value rather than serving a genuine trade.
The regulatory stakes
The cost of getting it wrong
Dealers in precious metals and stones are supervised for anti-money laundering and counter-terrorist financing (AML and CTF) compliance and examined in practice. These figures show the scale of what the regulator can impose.
Up to AED 5M
Administrative fines for AML and CTF breaches
From AED 50,000 per violation, under Cabinet Decision No. 16 of 2021 (Unified List of Violations and Administrative Fines). [VERIFY]
Licence
Suspension or withdrawal for repeated or serious failures
Supervisors can restrict or remove the right to trade. [VERIFY]
[VERIFY]
Dealers penalised by the Ministry of Economy to date
Confirm the current published figure before this page goes live. [VERIFY]
Self-check
Are you in scope?
If any of these describe your business, UAE law treats you as a Designated Non-Financial Business or Profession with full AML obligations. Tick what applies.
You carry AML obligations
Dealers in precious metals and stones are designated under UAE AML law. That means goAML registration, due diligence at the cash threshold, source of funds checks and reporting. We help you put each of these in place.
0 of these apply to you
How we help Precious Commodities Dealers
What we do
We help precious commodities dealers meet their AML and CTF obligations in a way that works at the counter, from registration and threshold checks through to reporting and record keeping.
01
Registration and Threshold Controls
We register your business on goAML and set the practical controls that tell your team when a transaction crosses into reporting territory.
goAML registration
We complete registration with the UAE Financial Intelligence Unit (FIU) and configure reporting access.
Threshold triggers
Clear rules for when a cash transaction requires due diligence and when it requires a report.
Reporting workflow
A documented route from a counter concern to a timely Suspicious Transaction Report (STR).
02
Due Diligence and Source of Funds
We design Customer Due Diligence (CDD) and source of funds checks that fit a fast, high-value trade.
- Customer identification and verification
- Source of funds enquiry for large cash payments
- Enhanced Due Diligence (EDD) for higher-risk customers
03
Records and Trained Staff
We make sure every qualifying transaction is recorded correctly and your team knows how to handle a concern.
- Transaction and identity record keeping
- Red flag training for counter staff
- Documented training records for inspection
How we get you compliant
From registration to a working threshold and reporting routine, built around the way you trade.
Related services
Services most relevant to precious commodities dealers
AML Framework
The risk assessment, policies and procedures your business is required to hold.
Explore service →MLRO-as-a-Service
An experienced reporting officer to own your goAML filings and oversight.
Explore service →AML Training & Audit
Red flag and threshold training built for counter and sales teams.
Explore service →