Home   Browse contents   View updates   Search  
     Quick search
Go
   

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
Archive

BackText onlyPrint

You need the Flash plugin.

Download Macromedia Flash Player



  • Requirements for ordering institution

    • AML 9.3.3

      Before effecting a fund transfer, an Authorised PersonG that is an ordering institution must:

      (a) identify the payer and verify the identity of the payer if the identity has not previously been identified; and
      (b) record adequate details of the fund transfer that are sufficient to permit its reconstruction, including but not limited to, the date of the transfer, the payer and payee, and the type and amount of currency transferred and the value date.
      Derived from DFSA RM231/2018 (Made 6th June 2018) [VER15/07-18]

    • AML 9.3.4

      For a cross-border fund transfer where the amount to be transferred is $1000 or less, an Authorised PersonG that is an ordering institution must include in the message or payment instruction that accompanies or relates to the fund transfer the following:

      (a) the name of the payer;
      (b) the payer's account number (or unique transactionG reference number if no account number exists);
      (c) the name of the payee; and
      (d) the payee's account number (or unique transactionG reference number if no account number exists).
      Derived from DFSA RM231/2018 (Made 6th June 2018) [VER15/07-18]

    • AML 9.3.5

      For a cross-border fund transfer where the amount to be transferred is more than $1,000, an Authorised PersonG that is an ordering institution must, in addition to the information required by AML Rule 9.3.4, include in the message or payment instruction that accompanies or relates to the fund transfer any one of the following:

      (a) the payer's address:
      (b) the payer's national identity number, such as an identity card number or passport number;
      (c) the payer's customerG identification number; or
      (d) the date and place of birth of the payer.
      Derived from DFSA RM231/2018 (Made 6th June 2018) [VER15/07-18]

    • AML 9.3.6

      If several individual cross-border fund transfers from a single payer are bundled in a batch file for transmission, then, in complying with AML Rules 9.3.4 and 9.3.5, an Authorised PersonG that is an ordering institution must ensure that:

      (a) the batch file contains the payer information required under AML Rule 9.3.4 and, if applicable, AML Rule 9.3.5;
      (b) it has verified the payer information referred to in (a); and
      (c) the batch file contains the payee information required under AML Rule 9.3.4 for each payee and that information is fully traceable in the payee's country.
      Derived from DFSA RM231/2018 (Made 6th June 2018) [VER15/07-18]

    • AML 9.3.7

      For a domestic fund transfer, an Authorised PersonG that is an ordering institution must either:

      (a) include in the message or payment instruction that accompanies or relates to the fund transfer the following:
      (i) the name of the payer;
      (ii) the payer's account number (or unique transaction reference number if no account number exists); and
      (iii) any one of the following:
      (A) the payer's address;
      (B) the payer's national identity number, such as an identity card number or passport number;
      (C) the payer's customer identification number; or
      (D) the date and place of birth of the payer; or
      (b) include only the payer's account number (or unique transactionG reference number if no account number exists), provided that:
      (i) those details will permit the transactionG to be traced back to the payer and payee; and
      (ii) the ordering institution must provide the payer information set out in paragraph (a) within 3 business days of a request for the information by the beneficiary institution or the DFSA or immediately upon request of a law enforcement agency.
      Derived from DFSA RM231/2018 (Made 6th June 2018) [VER15/07-18]

      • AML 9.3.7 Guidance

        The payer's address referred to in AML Rule 9.3.5 or AML Rule 9.3.7 should be the address that the Relevant PersonG has verified as part of its Customer Due DiligenceG on the payer.

        Derived from DFSA RM231/2018 (Made 6th June 2018) [VER15/07-18]

    • AML 9.3.8

      An Authorised PersonG that is an ordering institution must retain a record of payer and payee information it has collected under this section.

      Derived from DFSA RM231/2018 (Made 6th June 2018) [VER15/07-18]

    • AML 9.3.9

      An Authorised PersonG that is an ordering institution must not execute a fund transfer if it is unable to comply with the requirements in AML Rules 9.3.3 to 9.3.8.

      Derived from DFSA RM231/2018 (Made 6th June 2018) [VER15/07-18]