FSRA AML Rulebook ADGM
United Arab Emirates
2019
AML/CFT
Overview
The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) issues the AML Rulebook to set out anti-money laundering (AML), counter-terrorist financing (CTF), and sanctions compliance obligations. It aligns with Federal Decree-Law No. 20 of 2018, Cabinet Decision No. 10 of 2019, and FATF standards.The rulebook applies to all ADGM-licensed financial institutions, banks, insurers, brokers, asset managers, payment service providers, fintechs, and DNFBPs such as real estate companies, law firms, accountants, and corporate service providers.
Key Obligations
- Implement a risk-based AML/CFT framework tailored to the nature of the business
- Conduct Customer Due Diligence (CDD) and verify beneficial ownership
- Apply Enhanced Due Diligence (EDD) for high-risk customers and PEPs
- Report Suspicious Transaction Reports (STRs) and Suspicious Activity Reports (SARs) to the UAE FIU via goAML
- Retain customer and transaction records for at least 5 years
- Appoint a Money Laundering Reporting Officer (MLRO)
- Provide regular AML training to staff and conduct independent audits
- Screen against sanctions and watchlists
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