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Article (6)

IA-BOD-RES 10/2019

Financial Institutions and DNFBPs should, as the case may be, undertake CDD measures in the following cases:

  1. Establishing the business relationship;
     
  2. Carrying out occasional transactions in favour of a Customer for amounts equal to or exceeding AED 55,000, whether the transaction is carried out in a single transaction or in several transactions that appear to be linked;
     
  3. Carrying out occasional transactions in the form of Wire Transfers for amounts equal to or exceeding AED 3,500.
     
  4. Where there is a suspicion of the Crime.
     
  5. Where there are doubts about the veracity or adequacy of previously obtained Customer's identification data.