The UAE government has imposed fines worth 3.2 million UAE dirhams ($871,270) on six companies for violating anti-money laundering and counter-terrorism financing regulations. 

The fines were imposed following inspections conducted by the Ministry of Economy, according to a report by state news agency WAM on Wednesday. 

The report did not identify the companies that operate in the so-called designated non-financial business or professions (DNFBP) sector, which includes real estate agents and brokers, precious metals and gemstone dealers, auditors and corporate service providers. 

The six DNFBP companies were fined “for their failure to adhere to the internal policies and controls established to combat crime; engaging in suspicious business relationships and failure to adopt necessary measures to limit the risks of crime.” 

The companies also failed to strengthen anti-money laundering procedures and monitor or report suspicious transactions. 

Around 15,000 companies operate in the DNFBP sector, which is under the supervision of the Ministry of Economy. 

The UAE government has beefed monitoring efforts to ensure that businesses across the emirates comply with anti-money laundering and counter-terrorism financing laws. 

Just this month, the UAE central bank ordered two exchange houses to pay hefty fines worth a total of 2.95 million UAE dirhams for violating anti-money laundering rules. 

(Writing by Cleofe Maceda; editing by Mily Chakrabarty)