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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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  • AML 14.4.2 Guidance

    1. The records required to be kept under AML Rule 14.4.1 may be kept in electronic format, provided that such records are readily accessible and available to respond promptly to any DFSA requests for information. Authorised Persons are reminded of their obligations in GEN Rule 5.3.24.
    2. If the date on which the business relationship with a customer has ended remains unclear, it may be taken to have ended on the date of the completion of the last transaction.
    3. The records maintained by a Relevant Person should be kept in such a manner that:
    a. the DFSA or another competent authority is able to assess the Relevant Person's compliance with legislation applicable in the DIFC;
    b. any transaction which was processed by or through the Relevant Person on behalf of a customer or other third party can be reconstructed;
    c. any customer or third party can be identified; and
    d. the Relevant Person can satisfy without delay any regulatory enquiry or court order to disclose information.
    4. The DFSA would ordinarily expect a Relevant Person to be able to provide a copy of a record or assessment referred to in AML Rule 14.4.1 or AML Rule 14.4.2 within 24 hours of a request by the DFSA. However, if a request is complex or if records are kept outside the DIFC as set out in AML Rule 14.4.3, the DFSA may allow further time to comply with the request.
    Derived from RM117/2013 [VER9/07-13]
    [Amended] DFSA RM231/2018 (Made 6th June 2018) [VER15/07-18]