AML Requirements for Dealers in precious metals and stones in the DIFC
Businesses trading in gold, precious metals or gemstones at any stage of the supply chain, from extraction and refining through wholesale to retail jewellers.
Are dealers in precious metals and stones designated in the DIFC?
Yes. The designation follows the business itself, so a firm carrying on this activity in the DIFC is within the regime without any further test.
- Designating provision
- DFSA AML 3.2.1(1)(b)
- Supervisor
- Dubai Financial Services Authority
The threshold is USD 15,000 in connected cash transactions, not AED 55,000.
Reports filed with no suspicion required
No threshold-based report has been established for this sector in the DIFC. Reporting here is suspicion-driven: suspicious transaction and activity reports are filed when the firm has grounds to suspect, whatever the amount. That is not the same as saying nothing is owed, and it is why record keeping and the ability to recognise a suspicion matter more in this sector than any threshold.
What the regime requires here
DFSA Rulebook, Anti-Money Laundering, Counter-Terrorist Financing and Sanctions Module (AML), rule 3.2.1 governs AML in the DIFC. Every designated firm owes the same spine of obligations: a documented risk assessment covering money laundering, terrorist financing and proliferation financing; customer due diligence with enhanced measures for higher risk and for high-risk countries; policies approved by senior management; a compliance officer at management level; an independent audit of the controls; immediate implementation of targeted financial sanctions; staff training; and records available to the authorities on request.
- DFSA Rulebook, AML module, rule 3.2.1 (DNFBP definition in the DIFC)
- DFSA Rulebook, AML 15 (DNFBP Registration and Supervision)
What Federal Decree-Law No. 10 of 2025 changed sets out the obligations and the penalties in full, with each article cited.
See where this firm actually stands
AML Compass assesses a dealers in precious metals and stone against the duties that apply in the DIFC, scores its risk and inspection readiness, and produces a report of the gaps citing the provision behind each one.
The same sector elsewhere in the UAE
The designation, the threshold and the supervisor are not the same across jurisdictions, so a firm operating in more than one needs both answers.
This page summarises published legislation and rulebooks for general information. It is not legal advice, and it does not replace the texts themselves or guidance from your supervisor.