Quick Summary:
If you sell gold, diamonds or fine jewellery in the UAE, AML rules apply to you once a cash deal reaches AED 55,000. This guide explains, in plain words, who is covered, how to register on goAML, and why you need a compliance officer and a risk assessment. It also covers what ID to collect at the counter, when to file a DPMSR or a suspicious transaction report, how to screen customers against sanctions lists, and how long to keep records. It ends with common mistakes and quick FAQs.
Walk through Dubai’s Gold Souq on a busy evening and you’ll see why the UAE is one of the world’s biggest jewellery markets. That same buzz also attracts people who want to hide dirty money.
Regulators know this. In May 2026, the Minister of Economy and Tourism personally toured the Gold Souq to check how traders were handling AML rules, and the Ministry has set up a dedicated AML task force for jewellers. Inspections are no longer rare.
This guide breaks down the AML compliance requirements for jewellers in UAE into simple steps you can follow, whether you run one counter or twenty showrooms.
What AML Compliance Means for Jewellers
AML for Jewellers in Simple Words
AML stands for anti-money laundering. For a jeweller, AML compliance means having simple checks in place so criminals can’t use your shop to turn illegal cash into clean-looking gold or diamonds. In practice, it comes down to four things: knowing who your customer is, noticing when something doesn’t add up, reporting it to the authorities, and keeping proof that you did all of this.
Why Criminals Like the Jewellery Trade
Money launderers care about what gold, and stones can do for them, not your designs:
- High value in a small item. A few gold bars or a handful of loose diamonds can carry hundreds of thousands of dirhams in one pocket.
- Easy to resell anywhere. Gold has a price in every market, so it can be bought in Dubai and sold in another country with little loss.
- A lot of business is done in cash. Many customers still pay in cash, and cash hides where the money came from.
- Gold keeps its value. It doesn’t lose value like a car or a phone, which makes it a handy place to park criminal money.
- Hard to trace. Once gold is melted down or a stone is reset, it has no history.
For example, a fraudster buys gold bars with AED 300,000 in cash and sells them abroad, so the money looks like normal sale proceeds. To see how this fits the bigger picture, read our guide on the stages of money laundering.
Let’s Review Your AML Controls
Who Has to Follow AML Rules in the Jewellery Business?
Businesses That Are Covered
AML rules cover anyone who trades precious metals or stones as a business, including:
Retail jewellery shops and showrooms
- Gold, silver and diamond traders and wholesalers
- Jewellery manufacturers, refiners and gold recyclers
- Online sellers of real gold and diamond jewellery
Under UAE law, these businesses are known as dealers in precious metals and stones, or DPMS for short. So, the AML requirements for precious metal dealers and for jewellers are the same set of rules.
What Counts as Precious Metals and Stones
| Category | What’s included |
|---|---|
| Precious metals | Gold (at least 50% pure), silver (at least 80%), platinum (at least 85%) and palladium (at least 50%) |
| Precious stones | Rough diamonds of any size, plus polished diamonds, emeralds, rubies and sapphires above set weights |
| Pearls | Loose or strung pearls above set sizes |
| Other | Items where most of the value comes from precious metals or stones |
This means 18K, 21K, 22K and 24K gold are all covered. Fashion and costume jewellery made from non-precious materials is not.
The AED 55,000 Rule Explained
Your AML duties kick in when you carry out a cash transaction of AED 55,000 or more. That can be one payment, or several smaller payments that are clearly linked. For example, a customer who pays AED 30,000 in cash on Monday and another AED 30,000 on Wednesday for the same bridal set has made one AED 60,000 deal.
This threshold comes from Cabinet Resolution No. 134 of 2025. Almost every jeweller crosses it sooner or later, so run your shop as if the rules always apply.
Who Checks Your Compliance
For most jewellers on the mainland and in free zones such as DMCC, the AML supervisor is the Ministry of Economy and Tourism. Jewellers licensed in ADGM are supervised by the FSRA, and those in DIFC by the DFSA. Our guide to AML laws for DPMS covers the legal side in more depth.
AML Compliance Requirements for Jewellers in UAE: Getting Set Up
Start with these basics. Every other step sits on them.
Register on goAML
goAML is the online system run by the UAE Financial Intelligence Unit (FIU). It’s where you file all your AML reports, so every jeweller needs an account. Registration happens in two stages: a pre-registration step, then full registration once the Ministry approves your application. You’ll need your trade licence details and the name of your compliance officer. Without a goAML account you can’t report anything, and inspectors treat that as a basic failure.
Appoint the Right AML Compliance Officer
Every jeweller must name a compliance officer. The law says this person should sit at management level, have the right skills and experience, and be free to make decisions independently. Their job is to watch transactions, review anything suspicious, decide whether to report it, keep your AML procedures up to date, train staff, and deal with the Ministry and the FIU.
In a small family shop, this is often the owner or a senior manager. That’s fine if they have the time and know-how.
Understand Your Business Risks (Risk Assessment)
A business risk assessment, also called an enterprise-wide risk assessment (EWRA), is a written review of how your shop could be misused. It should look at:
- Customer risk. Who buys from you? Tourists, walk-in cash buyers, trade customers, or politically exposed people?
- Product and payment risk. Do you sell gold bars and loose diamonds, or mostly finished jewellery? How much comes in as cash?
- Country and supplier risk. Where do your customers and your gold come from? Are there links to high-risk or sanctioned countries?
Keep it in writing, get senior management to sign it off, and update it whenever your business changes. The higher the risk in an area, the more effort your controls should put there.
Write Your AML Policy and Set Clear Responsibilities
Your AML policy is the rulebook for your staff. It should explain how you check customers, when extra checks are needed, how staff raise concerns, how reports are filed, how records are kept, and who is responsible for what. Senior management must approve it and should receive regular reports from the compliance officer.
An AML policy sample downloaded from the internet is a fine starting point, but inspectors check whether the policy matches how your shop really works. Well-built AML policies and procedures describe what your team does, day to day.
Train Your Staff
Your sales staff are the first to meet a suspicious customer. Train new joiners when they start, give everyone a regular refresher, and keep a record of who attended. Keep the training practical: what ID to ask for, the red flags common in jewellery, and what never to say to a customer.
Keep Your Jewellery Business Compliant
Checking Your Customers: KYC and Due Diligence
Know Your Customer (KYC), also called customer due diligence (CDD), means finding out who you’re dealing with before you complete a sale. It’s the part of jewellery compliance owners worry about most but done politely it’s quick and most genuine buyers don’t mind.
What Documents to Ask For
| Customer type | What to collect |
|---|---|
| UAE resident | Emirates ID, full name, nationality, date of birth, address and phone number |
| Visitor or tourist | Passport, visa or entry stamp, and home address |
| Company | Trade licence, memorandum of association, ID of the person paying and proof they can act for the company, and details of the real owners |
For company buyers, you need to know who really owns and controls the business, not just who walks in. This person is called the ultimate beneficial owner (UBO).
A quick tip for staff: present it as standard practice. A line like “For purchases of this size, we’re required to take a copy of your ID” sounds routine, not suspicious.
When You Need Extra Checks
Some customers need a closer look, known as enhanced due diligence (EDD). This applies when a customer is a politically exposed person (PEP), comes from a high-risk country, or wants something unusual, such as a very large cash purchase with no clear reason.
For PEPs, the law asks you to get senior management approval and to find out where their money and wealth came from. Our guide on politically exposed persons explains how to handle them, and our PEP and high-risk customer management service can set the process up for you.
Example: A Customer Wants to Pay AED 60,000 in Cash
Here’s how a typical high-value cash sale should run at your counter:
- Ask for ID. Take a copy of the Emirates ID or passport and note the customer’s details.
- Screen the name. Check it against the UAE and UN sanctions lists before you accept the money.
- Ask a few natural questions. Is it a gift or a wedding set? If the amount seems out of line, where does the cash come from?
- Watch for red flags. Is the customer nervous, in a rush, or oddly uninterested in the design?
- Complete the sale and file a DPMSR. Because the cash is over AED 55,000, the report goes on goAML within two weeks.
- If something feels wrong, pause. Tell your compliance officer, who decides whether to file a suspicious transaction report.
Keep Watching After the Sale (Ongoing Monitoring)
Checks don’t end at the first sale. If a regular customer who usually spends AED 5,000 suddenly starts buying gold bars every week, that change is worth a question. Update customer details when they change and review high-risk customers more often. Our guide to ongoing monitoring in AML explains how to set this up.
Check Every Customer Against Sanctions Lists
Sanctions screening works differently from the AED 55,000 rule: there is no minimum amount. You must check customers, company owners and suppliers against the UAE Local Terrorist List and the UN Consolidated List. Subscribe to the Executive Office for Control and Non-Proliferation (EOCN) notification system so you hear about list changes straight away.
If you find a confirmed match, stop the deal, freeze any funds or gold within 24 hours, and file a Confirmed Name Match Report (CNMR) on goAML within five business days. If it’s only a partial match that you can’t rule out, suspend the deal and file a Partial Name Match Report (PNMR) instead.
Reporting and Record Keeping
DPMSR: Reporting Cash Deals of AED 55,000 or More
The Dealers in Precious Metals and Stones Report (DPMSR) is a report that only jewellers and precious metal trader’s file. It’s simply a record of large deals, not a sign of suspicion.
Which deals need a DPMSR
- Cash deals of AED 55,000 or more with an individual, whether a resident or a visitor
- Deals of AED 55,000 or more with a company, paid in cash or by wire transfer
- Both shop sales to the public and trade sales between businesses
Which deals don’t need one
- Card, cheque or bank transfer payments from individuals, whatever the amount
- Old gold exchanged for new jewellery, as long as any cash part stays below the threshold
Even without a DPMSR, KYC and sanctions screening still apply.
The two-week deadline
File the DPMSR on goAML no later than two weeks after you receive the funds, with a copy of the customer’s ID attached. Late filing, especially when it happens often, is seen as a sign of weak controls.
Spotting and Reporting Suspicious Activity
Red flags at the counter
| Red flag | What it might mean |
|---|---|
| Cash split across visits to stay under AED 55,000 | Trying to avoid a DPMSR |
| No interest in design, only weight or purity | Using gold to move money |
| Someone else pays, or cash comes from a third party | Hiding the real buyer |
| Refuses ID or gives details that don’t match | Identity or source of funds problem |
| Wants to sell back soon after buying, even at a loss | Turning cash into “clean” money |
| Links to sanctioned or high-risk countries | Sanctions or terrorist financing risk |
Filing an STR without tipping off the customer
If you suspect a deal is linked to crime, your compliance officer must file a Suspicious Transaction Report (STR) on goAML straight away. There’s no minimum amount, so a suspicious AED 10,000 sale counts too.
Never tell the customer you’re reporting them. This is called tipping off, and it’s against the law. If you need time, simply say the sale needs an internal check, or politely decline it.
Other goAML Reports You Should Know
- SAR (Suspicious Activity Report): for suspicious behaviour or attempted deals that never go through
- CNMR and PNMR: for confirmed and partial sanctions matches, covered above
- HRC and HRCA: for transactions and activity linked to high-risk countries named by the authorities
Keeping Records for at Least 5 Years
Keep copies of customer IDs, KYC forms, invoices, payment proofs, DPMSRs, STRs and your risk assessments for at least five years. The clock starts from the end of the deal or the business relationship. The law even mentions CCTV recordings, which matters for jewellers whose counters are on camera.
Common AML Mistakes Jewellers Make
Thinking goAML Registration Is the End of the Job
Registration is only step one. Without a risk assessment, a policy, training and actual reporting, the account on its own does nothing.
Missing DPMSR Deadlines
A simple weekly check of large cash sales makes sure no qualifying deal goes unreported.
A Risk Assessment That Doesn’t Match the Shop
A copied template that ignores your real customers, products and payment methods won’t survive an inspection.
Policies Still Based on the Old 2018 Law
The UAE replaced its main AML law with Federal Decree-Law No. 10 of 2025. If your policy still quotes the 2018 law, it’s out of date.
These gaps can be costly. Administrative fines range from AED 10,000 to AED 5 million for each violation. Our guide to AML fines and penalties explains what regulators look for.
How GRC Advisors Helps Jewellers Stay AML Compliant
Meeting the AML compliance requirements for jewellers in UAE is much easier with a team that knows the sector. GRC Advisors helps jewellers, gold traders and bullion dealers build AML programmes that hold up during Ministry inspections.
We write AML policies to the current law, run business and customer risk assessments, support goAML registration and DPMSR filing, set up sanctions screening, train your counter staff, and carry out independent AML reviews. Whether you run one shop or a chain of showrooms, we keep it simple and practical. Talk to our team today.
Need Help With Your AML Compliance?
FAQs
Do small jewellery shops need to follow AML rules?
Yes. Any shop dealing in real gold, diamonds or precious stones is covered once cash deals reach AED 55,000, which almost every shop does. Smaller shops can keep simpler controls, but they still need goAML registration, a compliance officer, a written policy and KYC checks.
Do card payments need a DPMSR?
No. A card payment from an individual doesn’t need a DPMSR, whatever the amount. You still need to check the customer’s ID, screen them against sanctions lists, and file an STR if anything seems suspicious.
Does a jeweller need a full-time compliance officer?
Not always full-time, but the person must sit at management level, have the right skills and be able to act independently. In smaller shops, the owner or a senior manager often takes on the role alongside other duties.
Which risk category are jewellers and bullion dealers in?
The UAE treats dealers in precious metals and stones as a sector exposed to money laundering risk, which is why the Ministry inspects it closely. Your own rating depends on your customers, products and how they pay.
What happens if a jeweller ignores AML rules?
The Ministry can issue warnings, impose fines of AED 10,000 to AED 5 million per violation, and act against your licence. Serious cases can also lead to criminal charges.
Do online jewellery sellers need AML compliance?
Yes, if you sell real gold, diamonds or precious stones online. Selling online adds risk because you never meet the customer, so ID checks and sanctions screening matter even more.
