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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Anti-Money Laundering, Counter-Terrorist Financing and Sanctions Module (AML) [VER16/07-19]
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Consultation Papers
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DFSA Codes of Practice
Amendments to Legislation
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Notices
Financial Markets Tribunal
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  • AML 5.1.1

    A Relevant Person must:

    (a) take appropriate steps to identify and assess money laundering risks to which its business is exposed, taking into consideration the nature, size and complexity of its activities;
    (b) when identifying and assessing the risks in (a), take into account, to the extent relevant, any vulnerabilities relating to:
    (i) its type of customers and their activities;
    (ii) the countries or geographic areas in which it does business;
    (iii) its products, services and activity profiles;
    (iv) its distribution channels and business partners;
    (v) the complexity and volume of its transactions;
    (vi) the development of new products and new business practices, including new delivery mechanisms, channels and partners; and
    (vii) the use of new or developing technologies for both new and pre-existing products;
    (c) take appropriate measures to ensure that any risk identified as part of the assessment in (a) is taken into account in its day to day operations, including in relation to:
    (i) the development of new products, business practices and technologies referred to in AML Rule 5.1.3;
    (ii) the taking on of new customers; and
    (iii) changes to its business profile.
    Derived from RM117/2013 [VER9/07-13]
    [Amended] DFSA RM231/2018 (Made 6th June 2018) [VER15/07-18]