The cash transaction threshold
A single cash transaction, or linked transactions, of AED 55,000 or more triggers defined obligations. Identifying when transactions are linked is the real practical challenge.
Sectors under AML supervision
AML Compliance for Gold and Jewellery Dealers
Dealers in precious metals and stones are among the most closely supervised. We build your framework and run it.
Gold and jewellery trading receives particular attention from UAE regulators, for structural reasons rather than arbitrary ones: a high-value, small, easily transported good, in a market that handles more cash than most. That combination makes the sector a preferred route for moving illicit funds.
As a result, AML compliance for gold dealers is not a formality to complete your licence. It is a framework tested in practice at inspection: how do you verify a cash buyer's identity? What did you do when purchases repeatedly landed just below the threshold?
We combine compliance expertise with operational knowledge of this specific sector, through our accounting work with gold and jewellery businesses and our partnership in an accounting system built for it.
What your business must do
Customer due diligence
Verifying customer and beneficial owner identity, with enhanced measures for walk-in customers and large cash transactions.
Appointing a compliance officer
Someone responsible for monitoring and reporting, which may be outsourced under a service agreement.
Registration and reporting
Registering on the goAML platform and filing reports when the grounds arise.
Risk assessment and policies
A documented assessment of the store's exposure and written policies that work at the counter, not in a drawer.
Staff training
The salesperson at the counter is the first line of defence; training them and documenting it is an obligation.
Risk indicators in this sector
- Splitting purchases to stay under the threshold
- Walk-in customers making large cash transactions
- Purchases made on behalf of an undisclosed party
- Cross-border dealings with suppliers in higher-risk jurisdictions
- Mixing personal and business stock
Our services for this sector
Frequently asked questions
Do the obligations apply to a small shop?
Yes. Scope attaches to the nature of the activity and the value of transactions, not to the size of the business or its branch count.
What counts as linked transactions?
Several transactions that look separate but are in fact part of one operation — a single purchase split across days or invoices. Detecting that link is part of your responsibility.
Do you connect compliance to the accounting system?
Yes, and that is our advantage: accurate sales and stock records are what make pattern detection possible in the first place.