RPP 3-4 RPP 3-4 Supervision of DNFBPs
DFSAexpects to undertake periodic visits to the place of business of a DNFBPas part of its risk based approach to supervising firms. The DFSAmay also include DNFBPsin thematic visits.
Onsite visits to
DNFBPswill generally focus on their compliance with relevant AML/CTF Laws and the Rulescontained in the AML module. This may include the DFSAtesting the firm's systems and controls for conducting a money laundering risk assessment, customer due diligence and complying with relevant United Nations Security Council Sanctions and Resolutions.
The onsite visit is likely to include interviews with senior management and a review of relevant records. Depending on the outcome of the visit, the
DFSAmay provide a letter to the firm to discuss its findings.Derived from DFSA GM8/2011 (Made 28th April 2011). [VER 1/02-11]
DFSAwill also receive an Annual AML Return from a DNFBP(see AML Rule 14.5.1) which will assist the DFSAin its supervision of DNFBPs.