AML 10.2.1 Guidance

Past version: effective from 14/07/2013 - 31/01/2017
To view other versions open the versions tab on the right

1. In relation to the term "make appropriate use" in Rule 10.2.1, this may mean that a Relevant Person cannot undertake a transaction for or on behalf of a person or that it may need to undertake further due diligence in respect of a person.
2. Relevant resolutions or sanctions mentioned in Rule 10.2.1 may, among other things, relate to money laundering, terrorist financing or the financing of weapons of mass destruction or otherwise be relevant to the activities carried on by the Relevant Person. For example:
a. a Relevant Person should exercise due care to ensure that it does not provide services to, or otherwise conduct business with, a person engaged in money laundering, terrorist financing or the financing of weapons of mass destruction; and
b. an Authorised Market Institution should exercise due care to ensure that it does not facilitate fund raising activities or listings by persons engaged in money laundering or terrorist financing or financing of weapons of mass destruction.
Derived from RM117/2013 [VER9/07-13]