TITLE: United Arab Emirates Council of Ministers Establishes Administrative Penalties Framework for Know Your Customer Digital Platform Violations BODY: On April 20, 2026, the United Arab Emirates Council of Ministers issued Cabinet Decision No. 56 of 2026, establishing a comprehensive framework of administrative violations and penalties applicable to breaches of the Federal Decree-Law No. 30 of 2024 concerning the "Know Your Customer" (KYC) digital platform and its implementing regulations. The decision creates a structured penalties regime designed to enforce compliance with the KYC digital platform framework. The administrative violations and corresponding sanctions apply to entities and individuals that contravene the provisions of the Federal Decree-Law No. 30 of 2024 and its executive regulations. The framework establishes graduated penalties to address non-compliance, ranging across various categories of violations related to the KYC platform's operational and regulatory requirements. This regulatory development reflects the United Arab Emirates' commitment to strengthening customer due diligence procedures and anti-money laundering and counter-terrorism financing (AML/CTF) compliance through digitalisation. The decision became effective on April 21, 2026, one day following its issuance. The regulation was published in the Official Gazette (Al-Jarida Al-Rasmiyya) on April 30, 2026, in Issue No. 822, and is currently in force. Financial institutions, money services businesses, and other entities subject to KYC requirements under the Federal Decree-Law No. 30 of 2024 must ensure compliance with the administrative penalties framework outlined in Cabinet Decision No. 56 of 2026 and its accompanying regulations and schedules.

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