AML 7.7.1

(1) Where, in relation to any customer, a Relevant Person is unable to conduct or complete the requisite Customer Due Diligence in accordance with AML Rule 7.1.1 it must, to the extent relevant:
(a) not carry out a transaction with or for the customer through a bank account or in cash;
(b) not open an account or otherwise provide a service;
(c) not otherwise establish a business relationship or carry out a transaction;
(d) terminate or suspend any existing business relationship with the customer;
(e) return any monies or assets received from the customer; and
(f) consider whether the inability to conduct or complete Customer Due Diligence necessitates the making of a Suspicious Activity Report under AML Rule 13.3.1(c).
(2) A Relevant Person is not obliged to comply with (1) (a) to (e) if:
(a) to do so would amount to "tipping off" the customer, in breach of Federal AML legislation; or
(b) the FIU directs the Relevant Person to act otherwise.
Derived from RM117/2013 [VER9/07-13]
[Amended] DFSA RM196/2016 (Made 7th December 2016). [VER13/02-17]
[Amended] DFSA RM223/2018 (Made 18th April 2018). [VER14/07-18]]
[Amended] DFSA RM258/2019 (Made 26th June 2019). [VER16/07-19]