FSRA AML Rulebook ADGM
United Arab Emirates
2019
AML/CFT
Overview
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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Related Regulations
FAQ
Who enforces AML in ADGM?
The FSRA (Financial Services Regulatory Authority).
Which industries are covered?
Banks, insurers, brokers, asset managers, fintechs, PSPs, law/accounting firms, real estate companies, and corporate service providers licensed in ADGM.
Are STRs mandatory?
Yes. All covered entities must report suspicious transactions to the UAE FIU via goAML.
What are the penalties for non-compliance?
Administrative fines, business restrictions, license suspension, or criminal liability.