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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Anti-Money Laundering, Counter-Terrorist Financing and Sanctions Module (AML) [VER16/07-19]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
Archive

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(2 versions)
 
Jul 14 2013 - Oct 28 2018Oct 29 2018 onwards

AML 7.6.1

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The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

To view past versions of this module in PDF format, please visit the Archive.

(1) When undertaking ongoing Customer Due DiligenceG under Rule 7.3.1(1)(d), a Relevant PersonG must, using the risk-based approach:

(a) monitor transactions undertaken during the course of its customer relationship to ensure that the transactions are consistent with the Relevant Person'sG knowledge of the customer, his business and risk rating;
(b) pay particular attention to any complex or unusually large transactions or unusual patterns of transactions that have no apparent or visible economic or legitimate purpose;
(c) enquire into the background and purpose of the transactions in (b);
(d) review the adequacy of the Customer Due DiligenceG information it holds on customers and Beneficial OwnersG to ensure that the information is kept up to date, particularly for customers with a high risk rating; and
(e) review each customer to ensure that the risk rating assigned to a customer under Rule 6.1.1(1)(b) remains appropriate for the customer in light of the money laundering risks.

(2) A Relevant PersonG must carry out a review under (1)(d) and (e) periodically and at other appropriate times when a material change or event occurs relating to a customer.

Derived from RM117/2013 [VER9/07-13]
[Amended] DFSA RM231/2018 (Made 6th June 2018) [VER15/07-18]