AML 6.2.1

A Relevant Person must:

(a) establish and maintain effective policies, procedures, systems and controls to prevent opportunities for money laundering in relation to the Relevant Person and its activities;
(b) ensure that its systems and controls in (a):
(i) include the provision to the Relevant Person's Senior Management of regular management information on the operation and effectiveness of its Anti-Money Laundering systems and controls necessary to identify, measure, manage and control the Relevant Person's money laundering risks;
(ii) enable it to determine whether a customer or a Beneficial Owners is a PEP;
(iii) enable the Relevant Person to comply with these Rules and Federal AML Legislation; and
(iv) the Penal Code of the United Arab Emirates; and
(c) ensure that regular risk assessments are carried out on the adequacy of the Relevant Person's Anti-Money Laundering systems and controls to ensure that they continue to enable it to identify, assess, monitor and manage money laundering risk adequately, and are comprehensive and proportionate to the nature, scale and complexity of its activities.
Amended on (15 April, 2019).