UAE has reshaped its regulatory landscape and cracked down on financial crime
The UAE has over the past five years fundamentally and robustly reshaped its regulatory landscape, in particular in the area of financial services. That is according to a new report by AJMS Global.
The study from the international consulting firm reviewed how the UAE has developed and enhanced its regulatory policies and frameworks across sectors, with the aim to boost transparency, construct a more fair playing field, strengthen consumer protection, and balance market dynamics.
The analysis paints a picture of rapid professionalization, far beyond the banking sector. “The period from 2020 to 2025 marks one of the most defining phases in the UAE’s regulatory and enforcement history. Key developments undertaken have positioned the UAE as a regional leader in financial integrity, setting a benchmark for other jurisdictions,” states the report.
Financial services
Yet, much of the credits goes to efforts made in the financial services sector. These efforts have been set under a concerted national strategy, resulting in the strengthening of the framework for anti-money laundering and terrorist financing, and enhanced combatting of other types of financial crime such as fraud and embezzlement.
Regulations have been backed by rigorous law enforcement, often with zero-tolerance. Financial penalties handed out was led by the Central Bank of the UAE, which imposed over AED 630 million in fines, but also included a host of other regulators, including Dubai’s Virtual Assets Regulatory Authority (AED 48 million), the Ministry of Economy (>AED 45 million), and the Abu Dhabi Global Market authorities (>AED 45 million).
“This multi-front campaign was the deliberate execution of a national strategy guided by the 2024 National Risk Assessment, which identified key high-risk sectors for intense supervision,” highlight the authors.
Other sectors as well
Exchange Houses have faced shock and awe campaign of penalties and sanctions, culminating in a single landmark fine of AED 200 million against one house in May 2025 for major AML failures. The Central Bank of the UAE has also used its ultimate sanction, revoking the licenses of multiple firms, including Al Nahdi Exchange and Gomti Exchange.
The real estate sector is under intense scrutiny, with analysis from the UAE’s Financial Intelligence Unit revealing that an overwhelming 99% of suspicious property transactions involved physical cash. The Ministry of Economy has already imposed fines of AED 22.7 million for 228 violations in the sector.
In the metals sector meanwhile, 32 gold refineries were suspended for anti-money laundering related failures. Virtual Assets are being aggressively policed, with Dubai’s Virtual Assets Regulatory Authority (VARA) issuing 41 fines totaling over AED 48 million since the start of 2024 to sanitize the market.
Individual accountability
The report further highlights the steps taken by authorities to bring individuals to justice, enforcing individual accountability for financial crimes and holding executives personally liable. Precedent-setting cases include:
- The CBUAE imposing a personal AED 500,000 fine and a professional ban on the Branch Manager of an exchange house.
- The DFSA fining a former private banker approximately $1 million and banning him from the industry for circumventing anti-money laundering controls.
- ADGM authorities imposing multi-million dollar personal fines, an indefinite industry ban, and a 15-year director disqualification on a CEO.
Conclusion
Reflecting on the five-year period, the authors highlight how the UAE has shifted from an era of reactive, rule-based compliance to one that is proactive, strategic, and intelligence-driven risk management. At the same, the move has been combined with an approach of high-intensity enforcement and real action.
Abhishek Jajoo, Founder and Group CEO of AJMS Global, commented: “Our report quantifies a historic and permanent shift in the UAE, marking a sustained shift to trusted global business and financial services hub.”
