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Jul 14 2013 - Jan 31 2017Feb 1 2017 onwards

AML 12.1.1

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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.

A Relevant PersonG must

(a) provide AML training to all relevant EmployeesG at appropriate and regular intervals;
(b) ensure that its AML training enables its EmployeesG to:
(i) understand the relevant legislation relating to money laundering, including Federal AML legislation;
(ii) understand its policies, procedures, systems and controls related to money laundering and any changes to these;
(iii) recognise and deal with transactions and other activities which may be related to money laundering;
(iv) understand the types of activity that may constitute suspicious activity in the context of the business in which an EmployeeG is engaged and that may warrant a notification to the MLROG under AML Rule 13.2.2;
(v) understand its arrangements regarding the making of a notification to the MLROG under AML Rule 13.2.2;
(vi) be aware of the prevailing techniques, methods and trends in money laundering relevant to the business of the Relevant PersonG ;
(vii) understand the roles and responsibilities of EmployeesG in combating money laundering, including the identity and responsibility of the Relevant Person'sG MLROG and deputy, where applicable; and
(viii) understand the relevant findings, recommendations, guidance, directives, resolutions, sanctions, notices or other conclusions described in chapter 10; and
(c) ensure that its AML training:
(i) is appropriately tailored to the Relevant Person'sG activities, including its products, services, customers, distribution channels, business partners, level and complexity of its transactions; and
(ii) indicates the different levels of money laundering risk and vulnerabilities associated with the matters in (c)(i).
Derived from RM117/2013 [VER9/07-13]
[Amended] DFSA RM196/2016 (Made 7th December 2016). [VER13/02-17]