Records to keep for AML
How long must we keep client ID and transaction records for AML?
The situation
DNFBPs must keep customer due diligence and transaction records for at least 5 years.
The law
- Federal Decree-Law 10 of 2025: Minimum record retention for AML
What it means for you
Keep IDs, screening results, risk ratings and transaction files in an organised way so you can show an inspector quickly. Example: a corporate service provider keeps each client file for at least 5 years after the relationship ends. Tax rules may need 7 years for some records, so align policies.
What to do
- Set a retention policy of at least 5 years.
- Store files securely.
- Index by client.
- Align with 7-year tax retention.
We can do this for youAML for DNFBPs: goAML registration, compliance officer, risk assessment, customer checks and reporting: AED 3,500