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

AML 7.6.1 Guidance

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 complying with Rule 7.6.1(1)(d), a Relevant PersonG should undertake a periodic review to ensure that non-static customer identity documentation is accurate and up-to-date. Examples of non-static identity documentation include passport number and residential/business address and, for a legal person, its share register or list of partners.
2. A Relevant PersonG should undertake a review under Rule 7.6.1(1)(d) and (e), both periodically and at other appropriate times such as when:
a. the Relevant PersonG changes its CDDG documentation requirements;
b. an unusual transaction with the customer is expected to take place;
c. there is a material change in the business relationship with the customer; or
d. there is a material change in the nature or ownership of the customer.
3. The degree of the on-going due diligence to be undertaken will depend on the customer risk assessment carried out under Rule 6.1.1.
4. A Relevant Person'sG transaction monitoring policies, procedures, systems and controls, which may be implemented by manual or automated systems, or a combination thereof, are one of the most important aspects of effective CDDG . Whether a Relevant PersonG should undertake the monitoring by means of a manual or computerised system (or both) will depend on a number of factors, including:
a. the size and nature of the Relevant Person'sG business and customer base; and
b. the complexity and volume of customer transactions.
Derived from RM117/2013 [VER9/07-13]
[Amended] DFSA RM231/2018 (Made 6th June 2018) [VER15/07-18]