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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

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AML 5.1.3 Guidance

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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. Unless a Relevant PersonG understands the money laundering risks to which it is exposed, it cannot take appropriate steps to prevent its business being used for the purposes of money laundering. Money laundering risks vary from business to business depending on the nature of the business, the type of customers a business has, and the nature of the products and services sold.
2. Using the RBA, a Relevant PersonG should assess its own vulnerabilities to money laundering and take all reasonable steps to eliminate or manage such risks. The results of this assessment will also feed into the Relevant Person'sG risk assessment of its customers under chapter 6.
3. Under Article 4 of Cabinet Decision No.10 of 2019, in assessing its money laundering risks and taking steps to mitigate those risks, a Relevant PersonG is required to take into consideration the results of the National Risk Assessment prepared by the National Anti-Money Laundering and Combating Financing of Terrorism Committee (NAMLCFTC).
Derived from RM117/2013 [VER9/07-13]
[Amended] RM196/2016 (Made 7th December 2016). [VER13/02-17]
[Amended] DFSA RM231/2018 (Made 6th June 2018) [VER15/07-18]
[Amended] DFSA RM258/2019 (Made 26th June 2019). [VER16/07-19]