DNFBP's Duties

 
Prior to providing a business service the Designated Non-Financial Business and Professions ("DNFBP") is required to give its customer a form in accordance with the form enclosed with the First Schedule of the Prohibition on Money Laundering Order (Duties of Identification, Keeping Records of a DNFBP to Prevent Money Laundering and Terrorist Financing) 5775-2014 (hereinafter: "The Order"). The customer will fill in the order and the order will be delivered to the DNFBP who shall be obligated to keep the said form for a period of 5 years.
In addition, the DNFBP shall be required to evaluate whether the action is under a high risk for money laundering or terrorist financing, while using "red flags" that are specified in the Schedule of the Order, and the ones specified in the internet website of the Supervisor. To the extent that the DNFBP does not think that the action in question poses a high risk, it shall confirm this by signing the form. In addition, the DNFBP shall examine whether the name of the customer is listed in the list of terror activists and organizations published by the Ministry of Defense.
If the DNFBP is of the opinion that the action in question is under a high risk for money laundering or terrorist financing, it shall refrain from performing the action for the customer, in accordance with the ethical rules set forth for advocates and auditors regarding this issue.