• AML 12.3 AML 12.3 Responsibilities of a MLRO

    • AML 12.3.1

      A Relevant Person must ensure that its MLRO implements and has oversight of and is responsible for the following matters:

      (a) the day-to-day operations for compliance by the Relevant Person with its Anti-Money Laundering policies, procedures, systems and controls;
      (b) acting as the point of contact to receive notifications from the Relevant Person's Employees under Rule 14.2.2;
      (c) taking appropriate action under Rule 14.3.1 following receipt of a notification from an Employee;
      (d) making, in accordance with Federal AML Legislation, Suspicious Activity Reports;
      (e) acting as the point of contact within the Relevant Person for competent U.A.E. authorities and the Regulator regarding money laundering issues;
      (f) responding promptly to any request for information made by competent U.A.E. authorities or the Regulator;
      (g) receiving and acting upon any relevant findings, recommendations, guidance, directives, resolutions, Sanctions, notices or other conclusions described in Chapter 11; and
      (h) establishing and maintaining an appropriate money laundering training programme and adequate awareness arrangements under Chapter 13.
      Amended on (15 April, 2019).