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AML 5.1.3

(1) This Rule applies in relation to:
(a) the development of new products and new business practices, including new delivery mechanisms, channels and partners; and
(b) the use of new or developing technologies for both new and existing products.
(2) Without limiting AML Rules 5.1.1 and 5.1.2, a Relevant Person must take reasonable steps to ensure that it has:
(a) assessed and identified the money laundering risks relating to the product, business practice or technology; and
(b) taken appropriate steps to manage and mitigate the risks identified under (a), before it launches or uses the new product, practice or technology.
before it launches or uses the new product, practice or technology.
Derived from DFSA RM231/2018 (Made 6th June 2018) [VER15/07-18]