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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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
Financial Markets Tribunal

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(1 version)
Oct 29 2018 onwards

AML 7.3.1

Whole Section PDF

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) In undertaking Customer Due DiligenceG required by AML Rule 7.1.1(1)(a) a Relevant PersonG must:
(a) identify the customer and verify the customer's identity;
(b) identify any Beneficial OwnersG of the customer and take reasonable measures to verify the identity of the Beneficial OwnersG , so that the Relevant PersonG is satisfied that it knows who the Beneficial OwnersG are;
(c) if the customer is a legal person or legal arrangement, take reasonable measures to understand the nature of the customer's business and its ownership and control structure; and
(d) undertake on-going due diligence of the customer business relationship under AML Rule 7.6.1.
(2) If a person ("A") purports to act on behalf of the customer, the Relevant PersonG must, in addition to (1)(a):
(a) verify that A is authorised to act on the customer's behalf; and
(b) identify A and verify A's identity.
(3) The verification under (1) and (2) must be based on reliable and independent source documents, data or information.
Derived from DFSA RM231/2018 (Made 6th June 2018) [VER15/07-18]