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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Recognised Jurisdictions and Funds
Declaration Notices
Financial Markets Tribunal
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

Whole SectionText only Print Print Manager Link

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

AML 5.1.1

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.

A Relevant PersonG must:

(a) take appropriate steps to identify and assess money laundering risks to which its business is exposed, taking into consideration the nature, size and complexity of its activities;
(b) when identifying and assessing the risks in (a), take into account, to the extent relevant, any vulnerabilities relating to:
(i) its type of customers and their activities;
(ii) the countries or geographic areas in which it does business;
(iii) its products, services and activity profiles;
(iv) its distribution channels and business partners;
(v) the complexity and volume of its transactions;
(vi) the development of new products and new business practices, including new delivery mechanisms, channels and partners; and
(vii) the use of new or developing technologies for both new and pre-existing products;
(c) take appropriate measures to ensure that any risk identified as part of the assessment in (a) is taken into account in its day to day operations, including in relation to:
(i) the development of new products, business practices and technologies referred to in AML Rule 5.1.3;
(ii) the taking on of new customers; and
(iii) changes to its business profile.
Derived from RM117/2013 [VER9/07-13]
[Amended] DFSA RM231/2018 (Made 6th June 2018) [VER15/07-18]