Are you in a High-Risk sector without knowing it
Are you in a High-Risk sector without knowing it?
DFSA Classifies several business as DNFBPs due to exposure to financial crime risks.
In today’s evolving regulatory landscape, understanding whether your business qualifies as a Designated Non-Financial Business or Profession (DNFBP) is not just important—it’s essential.
Under the framework of the Dubai Financial Services Authority (DFSA), DNFBPs operating in or from the Dubai International Financial Centre (DIFC) are subject to specific Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) obligations.
But who falls under this category?
DNFBPs include:
- Real estate developers and agencies involved in buying or selling property on behalf of clients
- Dealers in precious metals or stones handling transactions of USD 15,000 or more
- Businesses issuing or providing services related to NFTs or Utility Tokens (subject to thresholds and exclusions)
- Law firms, notary firms, and independent legal professionals
- Accounting, audit, and insolvency firms
- Company service providers
These sectors are considered higher risk due to their exposure to large-value transactions and potential misuse for financial crime.
If your business falls within any of the above categories, you are required to implement robust AML compliance measures, including customer due diligence (CDD), transaction monitoring, and reporting obligations.
Staying compliant is not just about meeting regulatory requirements—it’s about safeguarding your business and reputation.
If you’re unsure about your DNFBP status or need support in strengthening your AML framework, our team is here to help.
Contact us today at 055 689 0505 or [email protected]
