August 15, 2021
| Part I: Registered Hawala Providers and Licensed Financial Institutions | 4 |
| 1 Introduction | 4 |
3.4.2 Other Types of Record Keeping...23 4 Reporting Obligations...23 4.1 Daily Reporting ...23 4.2 Quarterly Settlement Statements...23 4.3 Reporting Suspicious Transactions and registration to GoAML...23 5 Penalties ...24 Part III: Guidance for LFIs...25 1 Understanding Risks ...25 2 Mitigating Risks...25 2.1 Risk-Based Approach ...25 2.1.1 Conducting an enterprise risk assessment ...25 2.1.2 Identifying and assessing the risks associated with specific customers ...25 2.1.3 Applying EDD and other preventive measures ...26 2.2 Customer Due Diligence and Enhanced Due Diligence ...27 2.2.1 Customer Identification and verification ...27 2.2.2 Beneficial Owner Identification...27 2.2.3 Customer's Business and Business Relationship ...27 2.2.4 Ongoing Monitoring...28 2.3 Transaction Monitoring and STR Reporting ...29 2.3.1 Transaction Monitoring...29 2.3.2 STR Reporting ...30 2.4 Governanc...