DPMSR (Dealers in Precious Metals and Stones Report) Explained

A DPMSR is a mandatory anti-money laundering filing in the UAE for any cash transaction of AED 55,000 or more involving precious metals or stones. It applies to every licensed dealer in gold, silver, diamonds, and gemstones, whether buying or selling. The report is submitted electronically through the goAML platform operated by the UAE Financial Intelligence Unit.

Businesses handling high-value, portable goods face a specific money-laundering risk: criminals can convert illicit cash into gold or diamonds, move them, and resell them easily. The DPMSR gives regulators visibility over these cash movements.

What the DPMSR actually covers

The requirement sits within the UAE’s broader anti-money laundering framework. Dealers in Precious Metals and Stones (DPMS) are Designated Non-Financial Businesses and Professions (DNFBPs), placing them under the same AML supervision as accountants, real estate agents, and corporate service providers.

A DPMS business includes gold retailers and wholesalers, jewellers, diamond and gemstone traders, and refineries or recycling operations. If your trade involves buying or selling these goods for cash, the obligation follows the transaction, not the size of your shop.

The threshold is AED 55,000. This applies to a single cash payment, a single cash receipt, or several connected cash transactions reaching that amount. Splitting one large payment into smaller instalments does not remove the obligation; regulators treat linked transactions as one.

Reportable and non-reportable transactions

The distinction is straightforward once you separate cash from everything else.The AED 55,000 threshold-based DPMSR reporting requirement generally applies to qualifying cash transactions involving individual customers. For companies and other legal entities, qualifying transactions of AED 55,000 or more may be reportable whether settled in cash or by bank transfer. Transactions below the applicable threshold may still require a Suspicious Transaction Report (STR) if suspicious activity is identified.

How DPMSR fits into your AML obligations

Filing a DPMSR is one part of a wider compliance framework. The UAE requires DPMS businesses to maintain an AML Policy Framework, setting out internal controls, customer due diligence procedures, and reporting protocols. Without it, staff will not know when a transaction crosses the threshold or how to escalate it.

An Enterprise-Wide Risk Assessment (EWRA) underpins the policy. It identifies where your business is most exposed: high-value cash sales, walk-in customers with no prior relationship, or sourcing from jurisdictions with weaker controls. The EWRA shapes how rigorously you apply due diligence.

AML Registration with the relevant supervisory authority is a separate step many dealers overlook. Registration confirms your business is on the regulator’s radar and subject to its oversight. Operating without it does not remove your reporting duties; it means you are non-compliant from the start.

AML Training closes the compliance loop by ensuring that frontline staff handling cash sales can recognise suspicious patterns, understand the AED 55,000 reporting threshold, and complete DPMSR reporting accurately. Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) should also be conducted whenever suspicious activity is identified or a customer is associated with a high-risk jurisdiction, in accordance with applicable UAE AML/CFT requirements. Training should not be a one-off onboarding exercise; it must be refreshed regularly to reflect changes in regulations, risks, and reporting procedures.

Common mistakes when filing a DPMSR

Several errors recur across DPMS businesses, and they are avoidable.

The first is treating the threshold as optional guidance rather than a legal trigger. A dealer who waits until a transaction feels suspicious before reporting has already missed the point. The first mistake is treating the AED 55,000 threshold as optional guidance rather than a mandatory reporting trigger. For individual customers, cash transactions of AED 55,000 or more are generally reportable. For companies and other legal entities, qualifying transactions of AED 55,000 or more may be reportable whether settled in cash or by wire transfer. Suspicion is not required when the applicable threshold-based reporting criteria are met.

The second is poor record-keeping. If your cash ledger does not clearly link related transactions, you may fail to spot that three payments of AED 20,000 from the same buyer form a single reportable event. Regulators expect systems that capture this, not manual guesswork.

The third is filing late or incompletely. A DPMSR submitted through goAML requires accurate customer identification details, transaction specifics, and a clear description of the goods involved. Incomplete filings create follow-up queries and can signal weak internal controls.

How ADS Auditors supports DPMS compliance

ADS Auditors works with DPMS businesses across Dubai and Abu Dhabi to build the compliance structure that makes DPMSR filing routine rather than reactive. The starting point is understanding your business model: whether you deal mainly in bullion, finished jewellery, loose stones, or scrap refining, because each carries different risk profiles.

First, ADS Auditors conducts an Entity-Wide Risk Assessment (EWRA) based on your business operations and risk exposure. Based on the assessment findings, we then develop a tailored AML Policy Framework and implement appropriate customer due diligence procedures to address the identified risks. AML training ensures your team understands its responsibilities when handling cash transactions.

and put in place the customer due diligence procedures that support accurate reporting. AML Training for your team ensures the people handling cash understand their responsibilities.

When a reportable transaction occurs, ADS Auditors assists with preparing and submitting the DPMSR through goAML, checking that the filing is complete and consistent with your records. This reduces the administrative burden and the risk of avoidable errors.