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ADGM: 12 October 2023
Abu Dhabi Global Market (ADGM) has published five ‘Quick Guides’ specifically designed for Designated Non-Financial Businesses and Professions (DNFBPs), in support of the UAE’s vision and commitment to combat financial crime, and as part of its strategic objectives. The guides are aimed at raising awareness and understanding of key AML/CFT and sanctions obligations among the DNFBP sector operating within the international financial centre of the UAE’s capital.
The guides are crafted with a clear objective of assisting DNFBPs by providing an easy-to-read overview of key AML/CFT requirements covering five key topics as mentioned below:
1. Know Your Customer (KYC)
2. Customer Due Diligence (CDD)
3. Customer Risk Assessment (CRA)
4. AML/CFT Governance Frameworks
5. Targeted Financial Sanctions (TFS)
In addition to providing an overview of specific requirements that apply to ADGM-registered DNFBPs, these guides will also assist DNFBPs in developing adequate systems and controls for combatting Money Laundering and Terrorism Financing (ML/TF).
All published guides are available on ADGM’s website and can be accessed by clicking here: Guides on AML / CFT requirements designed for DNFBPs.
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