Article (27)

IA-BOD-RES 10/2019

Financial Institutions shall ensure that all international wire transfers equal to or more than (AED 3.500) are always accompanied by the following data:
1. The full name of the sender and the beneficiary.
2. The account number of the sender and the beneficiary, and in the absence of such account, the transfer must include a unique reference number that allows Financial Institutions to track it.
3. The sender's address, identification number, travel document, date and place of birth, or Client identification number with the transferring financial institution, which shall refer to a record containing these data.
In case of several international wire transfers are collected from one being combined in a transfer file to be sent to the beneficiaries, the transfer file shall include accurate data about the sender, and full information about the beneficiaries, which can be fully tracked in the beneficiary's country. Hence, the financial institution is required to include the sender's account number, or a unique reference number for the process.
Financial Institutions shall ensure that all international wire transfers that are less than the amount of AED (3.500) are accompanied by the data contained in Clause no. (1) of this Article, without the need to verify the validity of the referred data, unless there are doubts about the commission of the crime.
Financial Institutions transferring local wire transfers shall ensure that the information attached to the wire transfers includes the same data on the transferor referred to in Clause no. (1) of this Article, unless such data is available to the beneficiary Financial Institutions and the concerned parties by other means.
When the data attached to the local wire transfer is available to the beneficiary Financial Institutions and the concerned authorities through other means, the transferring financial institution is required to include the account number or the unique reference number of the transaction only, provided that this number allows the tracking of transactions to the transferor or the beneficiary. Moreover, the transferring financial institution must provide such data within three (3) working days of receiving the request from the beneficiary financial institution or the concerned authorities.
Financial Institutions are prohibited from executing wire transfers if they do not comply with the conditions set out in this article.
The transferring Financial Institutions must keep all the collected information about the transferor and the beneficiary, in accordance with the provisions of Article No. (24) of this Resolution.

_{This article has been amended by}_{Cabinet Resolution No. (24) of 2022}_{. You are viewing the latest version. To view the previous version, click the version box below}.

Version 1_{(effective from 10/02/2019 to 01/04/2022)}

Financial institutions shall ensure that all international wire transfers equal to or exceeding AED (3,500) are always accompanied by the following data:
1. The name of the originator, his or her identity number or travel document, date and place of birth, address and account number. In the absence of an account, the transfer must include a unique transaction reference number which allows the process to be tracked.
2. The name of the beneficiary and his account number used to make the transfers. In the absence of the account, the transfer must include a unique transaction reference number which allows the process to be tracked.
In the event that several individual cross-border wire transfers from a single originator are bundled in a batch file for transmission to beneficiaries, the batch file shall contain required and accurate originator information, and full beneficiary information, that is fully traceable within the beneficiary country; and the financial institution shall be required to include the originator’s account number or unique transaction reference number.
Financial institutions shall ensure that all cross-border wire transfers less than AED 3,500 are always accompanied by the data in Clause (1) of this Article, without the need to verify the accuracy of the data referred to, unless there are suspicions about committing the Crime.
For domestic wire transfers, the ordering financial institution shall ensure that the information accompanying the wire transfer includes originator information as indicated in Clause (1) of this Article, unless this information can be made available to the beneficiary financial institution and competent authorities by other means.
Where the information accompanying the domestic wire transfer can be made available to the beneficiary financial institution and competent authorities by other means, the ordering financial institution shall be only required to include the account number or a unique transaction reference number, provided that this number or identifier will permit the transaction to be traced back to the originator or the beneficiary. The ordering financial institution shall make the information available within three business days of receiving the request either from the beneficiary financial institution or from competent authorities.
Financial institutions shall not carry out wire transfers if they fail to comply with the conditions set out in this article.
Ordering financial institutions shall keep all information about the originator and the beneficiary collected in accordance with the provisions of Article (24) of this Decision.