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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]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
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  • AML 7.1 Requirement to Undertake Customer Due Diligence

    • AML 7.1.1

      (1) A Relevant PersonG must:
      (a) undertake Customer Due DiligenceG under AML section 7.3 for each of its customers; and
      (b) in addition to (a), undertake Enhanced Customer Due DiligenceG under AML Rule 7.4.1 in respect of any customer it has assigned as high risk.
      (2) A Relevant PersonG may undertake Simplified Customer Due DiligenceG in accordance with AML Rule 7.5.1 by modifying Customer Due DiligenceG under AML section 7.3 for any customer it has assigned as low risk.
      Derived from RM117/2013 [VER9/07-13]
      [Amended] DFSA RM231/2018 (Made 6th June 2018) [VER15/07-18]

      • AML 7.1.1 Guidance

        A Relevant PersonG should undertake CDDG in a manner proportionate to the customer's money laundering risks identified under Rule 6.1.1(1). This means that all customers are subject to CDDG under section 7.3. However, for high risk customers, additional Enhanced CDDG measures should also be undertaken under section 7.4. For low risk customers, section 7.3 may be modified according to the risks in accordance with section 7.5.

        Derived from RM117/2013 [VER9/07-13]
        [Amended] DFSA RM231/2018 (Made 6th June 2018) [VER15/07-18]