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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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(3 versions)

AML 6.1.1

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.

(1) A Relevant PersonG must:
(a) undertake a risk-based assessment of every customer; and
(b) assign the customer a risk rating proportionate to the customer's money laundering risks.
(2) The customer risk assessment in (1) must be completed prior to undertaking Customer Due DiligenceG for new customers, and whenever it is otherwise appropriate for existing customers.
(3) When undertaking a risk-based assessment of a customer under (1)(a) a Relevant PersonG must:
(a) identify the customer and any Beneficial OwnerG ;
(b) obtain information on the purpose and intended nature of the business relationship;
(c) obtain information on, and take into consideration, the nature of the customer's business;
(ca) take into consideration the nature of the customer, its ownership and control structure, and its Beneficial OwnerG (if any);
(d) take into consideration the nature of the customer business relationship with the Relevant PersonG ;
(e) take into consideration the customer's country of origin, residence, nationality, place of incorporation or place of business;
(f) take into consideration the relevant product, service or transaction;
(fa) if it is providing a customer with a life insurance or other similar policy, take into consideration the beneficiary of the policy and any Beneficial OwnerG of the beneficiary; and
(g) take into consideration the outcomes of business risk assessment under chapter 5.
Derived from RM117/2013 [VER9/07-13]
[Amended] DFSA RM196/2016 (Made 7th December 2016). [VER13/02-17]
[Amended] DFSA RM231/2018 (Made 6th June 2018) [VER15/07-18]