The Riffle Podcast

In this episode of  The Riffle , we examine the Dubai Financial Services Authority (DFSA) framework governing  Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), and Countering Proliferation Financing (CPF) within the Dubai International Financial Centre (DIFC). We explore the regulatory architecture underpinning AML compliance, including the DFSA’s risk-based approach, customer due d...

In this episode of  The Riffle , we examine the UAE Travel Rule framework applicable to Virtual Asset Service Providers (VASPs) operating across the UAE. We explore the regulatory architecture underpinning Travel Rule compliance, including mandatory collection, verification, and transmission of originator and beneficiary information, universal cross-border application, verification thresholds, and...

In this episode of  The Riffle , we examine the Dubai Financial Services Authority’s supervisory communication issued on 1 March 2026 in response to evolving regional geopolitical developments and the resulting expectations for Authorised Firms within the DIFC. The discussion outlines the DFSA’s confirmation of operational continuity, financial system resilience supported by capital and liquidity...

In this episode of  The Riffle , we examine the 2026 amendments to the Dubai Financial Services Authority’s Anti-Money Laundering, Counter-Terrorist Financing and Sanctions Module (AML), enacted under Rule-Making Instrument No. 435 of 2026. The discussion explores the alignment of the DIFC regulatory framework with Federal Law No. 10 of 2025 and Cabinet Resolution No. 134 of 2025, effective 2 Marc...

In this episode of  The Riffle , we examine Dubai’s Real Estate Tokenisation Pilot and the regulatory oversight framework governing its controlled implementation under the Virtual Assets Regulatory Authority (VARA). The discussion explores the pilot’s phased progression from initial technological and regulatory validation to its current evaluation stage, including the assessment of secondary-marke...

In this episode of  The Riffle , we examine the VARA Connect Portal — the official digital interface of the Virtual Assets Regulatory Authority (VARA) for managing regulatory applications and supervisory engagement within Dubai’s virtual asset ecosystem. The discussion explores the operational architecture of the portal, including entity onboarding, the Initial Disclosure Questionnaire (IDQ) proce...

In this episode of The Riffle , we examine the Financial Services Regulatory Authority’s Cyber Risk Survey Findings and Recommendations, as set out in FSRA Notice No. 15 of 2026, and their implications for firms operating in the Abu Dhabi Global Market (ADGM). The discussion explores the results of the FSRA’s Q3 2025 supervisory cyber risk survey, assessing the maturity of cyber risk management fr...

In this episode of The Riffle , we examine the UAE Travel Rule framework and its implications for Virtual Asset Service Providers (VASPs operating within the UAE). The discussion explores regulatory expectations around the collection, verification, and transmission of originator and beneficiary information, scope and universal application across jurisdictions, verification thresholds, and role-spe...

In this episode of The Riffle , we examine the Financial Services Regulatory Authority’s revised IT and cyber incident reporting framework and its implications for Authorised Persons operating in the ADGM. The discussion explores the FSRA’s expectations around timely incident identification and escalation, immediate notification obligations, the 24-hour reporting backstop, and the use of structure...

In this episode of The Riffle , we examine the Financial Services Regulatory Authority’s thematic review on outsourcing and its implications for Authorised Persons operating in the ADGM. The discussion explores the FSRA’s expectations on identifying outsourcing arrangements, distinguishing material and non-material outsourcing, and maintaining effective governance, due diligence, and ongoing overs...

In this episode of The Riffle, we examine the Virtual Assets Regulatory Authority (VARA)’s guidance on investor classification and onboarding and its implications for Virtual Asset Service Providers operating in Dubai. The discussion explores how VARA requires VASPs to categorise clients as Retail, Qualified, or Institutional Investors, the financial and knowledge-based eligibility thresholds for...

In this episode of The Riffle , we examine the misuse of virtual assets in financial crime and the evolving risks shaping the UAE and global regulatory landscape. The discussion explores how fraud, money laundering, illegal gambling, and sanctions circumvention are increasingly facilitated through virtual assets, including the use of stablecoins, decentralized platforms, and sophisticated transact...

In this episode of The Riffle , we examine the Abu Dhabi Global Market’s guidance on crypto mining activities and its implications for entities operating in or from ADGM. The discussion explores how crypto mining is classified under ADGM’s commercial licensing regime, the regulatory expectations around governance, cybersecurity, transparency, and on-chain asset disclosures, and the heightened scru...

In this episode of The Riffle , we explore how artificial intelligence and deepfake technologies are reshaping financial crime risks and challenging existing AML and fraud controls. The discussion examines the use of deepfakes and synthetic identities to bypass KYC, CDD, and biometric verification, the growing sophistication of AI-enabled fraud, and the pressure this places on compliance framework...

In this episode of The Riffle , we break down ADGM’s proposed update to the Insurance Regulatory Framework, as set out by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market . We unpack how the FSRA is seeking to modernise insurance and reinsurance regulation through a more risk-sensitive, economic capital-based approach aligned with leading global standards such as Solve...

In this episode of The Riffle , we unpack the Dubai Financial Services Authority (DFSA) Thematic Review on Conflicts of Interest, examining what the regulator expects from Authorised Firms operating in the Dubai International Financial Centre (DIFC). We break down the key findings from the DFSA’s cross-sectoral review — from weaknesses in governance, risk assessments, and Board oversight, to gaps...

In this episode of The Riffle , we break down the DFSA’s Policy Statement on assessing the fitness and propriety of Authorised Individuals under GEN Rule 7.6.5. We unpack how the DFSA applies a case-by-case, holistic assessment framework built around three core pillars — integrity, competence and capability, and financial soundness. The episode explores the key conduct, regulatory, employment, and...

In this episode of The Riffle , we break down the DFSA’s policy framework for assessing the suitability of Fiat Crypto Tokens and what it means for firms operating in or from the DIFC. We unpack the DFSA’s expectations around price stability, reserve backing, and governance, including strict requirements on asset quality, liquidity, segregation, and daily valuation of reserves. The episode also ex...

In this episode of The Riffle , we break down the DFSA’s supervisory guidelines on assessing the suitability of Crypto Tokens and what they mean for regulated firms operating in the DIFC. We unpack the DFSA’s expectations around mandatory suitability assessments, the context-specific nature of these reviews, and the five core criteria firms must consider — from token characteristics and regulatory...

In this episode of The Riffle , we break down the DFSA’s final Feedback Statement on Consultation Paper 165 and what it means for Licensed Functions and Authorised Individuals operating in the DIFC. We unpack the regulator’s decision to retain DFSA authorisation for Compliance Officers, Finance Officers, and Senior Managers, the rejection of Designated Functions and Designated Individuals, and the...

In this episode of The Riffle , we break down the UAE’s evolving regulatory framework for Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) alongside the newly established rules governing Commercial Gaming . We unpack the core compliance obligations placed on Financial Institutions, DNFBPs, and Virtual Asset Service Providers — from risk-based assessments and customer due diligence t...

In this episode of The Riffle , we break down ADGM’s new Consumer Protection Framework and what it means for retail businesses and consumers operating within Al Maryah and Al Reem Islands. We unpack the core rights ADGM grants to consumers — from safety and honest information to fair treatment and compensation — and the corresponding obligations placed on businesses around labelling, pricing trans...

In this episode of The Riffle , we break down the DFSA’s latest communication on Licensed Functions and the ongoing fitness & propriety obligations for all Authorised Firms in the DIFC. We unpack the regulator’s reminder that—despite proposals in Consultation Paper 165—firms must not act on any suggested changes until official amendments are published. The episode explores the DFSA’s reinforce...

In this episode of The Riffle , we unpack DWTCA Circular No. 17 — a significant update giving Free Zone companies far greater flexibility in structuring their share capital. We cover the introduction of multiple share classes, enhanced and restricted voting rights, redeemable shares, share buybacks, treasury shares, and the safeguards designed to protect shareholders. For anyone seeking a quick, c...

In this episode of The Riffle , we break down the latest regulatory updates from the DFSA’s 2026 Thematic Review. Clear, concise and insight-driven — this conversation walks you through the key findings, supervisory expectations, and what these changes mean for DIFC-based regulated firms. From strengthened AML/CFT controls to enhanced governance requirements and sharper expectations around risk fr...