Anti-Money Laundering Law

FIs and DNFBPs shall: 1- Monitor and scrutinize transactions, document and data on an ongoing basis to ensure that they are consistent with the reporting entity’s knowledge of the customer, the customer’s commercial activities and risk profile, and where necessary the customer's source of funds. 2- Examine any complex and unusual large transaction, and any unusual pattern of transactions that has no clear economic or legal objective. 3- Where the risks of money laundering are higher, the FI and DNFBP shall perform enhanced due diligence where the ML/TF risks are higher and increase the level and nature of monitoring of the relevant business relationship to determine whether the transaction is unusual or suspicious. 4- Keep records for a period of ten years and make them available to competent authorities upon request.