Entire Section

  • AML 9.2.2 AML 9.2.2

    An Authorised Firm must:

    (a) not enter into a correspondent banking relationship with a Shell Bank; and
    (b) take appropriate measures to ensure that it does not enter into, or continue a corresponding banking relationship with, a bank which is known to permit its accounts to be used by Shell BankS.
    Derived from RM117/2013 [VER9/07-13]
    [Amended] DFSA RM196/2016 (Made 7th December 2016). [VER13/02-17]

    • AML 9.2.2 Guidance

      AML Rule 9.2.2 prohibits an Authorised Firm from entering into a correspondent banking relationship with a Shell Bank or a bank which is known to permit its accounts to be used by Shell Banks. See the Guidance after AML Rule 6.1.7 for more information about what constitutes a Shell Bank.

      Derived from RM117/2013 [VER9/07-13]
      [Amended] DFSA RM196/2016 (Made 7th December 2016). [VER13/02-17]
      [Amended] DFSA RM231/2018 (Made 6th June 2018) [VER15/07-18]