DFSA AML Rulebook DIFC
United Arab Emirates
2019
Payments
AML/CFT
Overview
Key Obligations
- Adopt a risk-based AML/CFT program proportionate to business size and activities
- Conduct Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) for high-risk clients/PEPs
- Identify and verify beneficial ownership
- Report Suspicious Transaction Reports (STRs) to the UAE FIU via goAML
- Maintain records of transactions and CDD data for at least 5 years
- Appoint a Money Laundering Reporting Officer (MLRO)
- Conduct regular staff training and independent audits of AML controls
- Screen clients and transactions against sanctions lists
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