Entire Section

  • AML 14.2 AML 14.2 Group policies

    • AML 14.2.1

      A Relevant Person which is part of a Group must ensure that it:

      (a) has developed and implemented policies and procedures for the sharing of information between Group entities, including the sharing of information relating to Customer Due Diligence and money laundering risks;
      (b) has in place adequate safeguards on the confidentiality and use of information exchanged between Group entities, including consideration of relevant data protection legislation;
      (c) remains aware of the money laundering risks of the Group as a whole and of its exposure to the Group and takes active steps to mitigate such risks;
      (d) contributes to a Group-wide risk assessment to identify and assess money laundering risks for the Group; and
      (e) provides its Group-wide compliance, audit and AML functions with customer account and transaction information from branches and subsidiaries when necessary for AML purposes.
      Derived from RM117/2013 [VER9/07-13]
      [Amended] DFSA RM231/2018 (Made 6th June 2018) [VER15/07-18]