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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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Anti-Money Laundering, Counter-Terrorist Financing and Sanctions Module (AML) [VER16/07-19]
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Jul 14 2013 - Oct 28 2018Oct 29 2018 onwards

AML 7.2.2 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. For the purposes of AML Rule 7.2.1(2)(a), examples of situations which might lead a Relevant PersonG to have doubts about the veracity or adequacy of documents, data or information previously obtained could be where there is a suspicion of money laundering in relation to that customer, where there is a material change in the way that the customer's account is operated, which is not consistent with the customer's business profile, or where it appears to the Relevant PersonG that a person other than the customer is the real customer.
2. In AML Rule 7.2.2(1)(a), situations that the Relevant PersonG may take into account include, for example, accepting subscription monies during a short offer period or executing a time critical transaction, which if not executed immediately, would or may cause a customer to incur a financial loss due to price movement or loss of opportunity or when a customer seeks immediate insurance cover.
3. When complying with AML Rule 7.2.1, a Relevant PersonG should also, where relevant, consider AML Rule 7.7.1 regarding failure to conduct or complete CDDG and chapter 13 regarding SARs and tipping off.
4. For the purposes of AML Rule 7.2.2(1)(d), the DFSAG considers that in most situations as soon as reasonably practicable would be within 30 days after the establishment of a business relationship. However, it will depend on the nature of the customer business relationship.
Derived from RM117/2013 [VER9/07-13]
[Amended] DFSA RM231/2018 (Made 6th June 2018) [VER15/07-18]