• AML 1.2.1 AML 1.2.1

    (1) Subject to (2), the AML Rulebook applies to:
    (a) every Relevant Person in respect of all its activities carried out in or from the ADGM; and
    (b) the Persons specified in Rule 1.3.3 as being responsible for a Relevant Person's compliance with the AML Rulebook.
    (2) In respect of a Relevant Person that is:
    (a) an Authorised Person (other than a Credit Rating Agency) and a Recognised Body, only the requirements of Chapters 1 to 14 of the AML Rulebook apply;
    (b) a Representative Office only the requirements of Chapters 1 to 6 and 11 to 14 of the AML Rulebook apply;
    (c) a DNFBP, only the requirements of Chapters 1 to 9 and 11 to 15 of the AML Rulebook apply; and
    (d) an NPO only the requirements of Chapter 16 of the AML Rulebook apply.
    Amended on (15 April, 2019).

    • Guidance

      1. Chapters 7 to 9 of the AML Rulebook deal with customers. As a Representative Office does not have customer these chapters do not apply.
      2. Chapter 10 of the AML Rulebook deals with correspondent banking, electronic transfer of funds and audits.
      3. Relevant Persons should consider these Chapters and determine which provisions apply. To assist Relevant Persons the following table sets out the application of the AML Rulebook to each of the different types of Relevant Persons specified in Rule 1.2.1(1). This table is for guidance purposes only.

      Application table

      Relevant Person Applicable Chapter(s)
      Authorised Person (other than a credit Rating Agency) or Recognised Body 114
      Representative Office 16 1114
      DNFBP 19 1115
      NPO 16

      Added on (15 April, 2019).