Past version: effective from 01/04/2020 - 31/03/2020
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(1) An Authorised Firm that Provides Money Services must:
(a) maintain a complete, current and accurate register of all agents it uses to conduct its Money Services business and make the register available to the DFSA upon request;
(b) include all agents referred to in (a) as part of its AML compliance programme and monitor agents’ compliance with the programme;
(c) comply with all applicable AML requirements in the jurisdictions in which it operates, whether directly or through the use of agents;
(d) when executing Payment Transactions, assess and consider all relevant information including information about the payer, payee and any beneficiary, as applicable, to determine whether a Suspicious Activity Report should be made; and
(e) if appropriate, make a Suspicious Activity Report in any jurisdiction impacted or connected to a suspicious Payment Transaction, and make available relevant transaction information to the authorities responsible for AML compliance in the relevant jurisdiction.
(2) An Authorised Firm making an assessment under (1) must rely only on sources of information that are reliable and up-to-date.
(3) An Authorised Firm must keep adequate records of how it made its assessment under (1), including the sources and materials considered.
Derived from DFSA RMI271/2020 (Made 26th February 2020). [VER17/04-20]