DFSA fines immigration firm Hayman-Woodward Dh1.67m for unlicensed services

The Dubai Financial Services Authority (DFSA) has imposed a Dh1.67 million fine on Hayman-Woodward Global Mobility Services (HWW DIFC) for providing unauthorized services over a span of six years. The company was found to have operated within the Dubai International Financial Centre (DIFC) without proper registration as a designated non-financial business or profession (DNFBP).

This violation included acting as a formation agent for legal entities, offering a registered office, business address, and other administrative services to clients. HWW DIFC facilitated these unauthorized services to 71 clients between August 2018 and February 2025. The DFSA also ordered the surrender of any profits gained from these unlawful activities.

The fine was reduced by 30 percent after the company agreed to settle the case. DFSA's enforcement director, Alan Linning, emphasized the importance of the DNFBP regime in combating money laundering and other financial crimes within the DIFC. The UAE has been actively enforcing regulations to maintain the integrity and reliability of its financial system, as seen in recent fines imposed on wealth management firm Vault Wealth and ADGM for regulatory breaches.

The DFSA remains committed to enforcing stringent regulations and protecting users of financial services within the DIFC.