Who Needs a SCUML
Who Needs a SCUML
SCUML has the mandate to monitor, supervise and regulate the activities of Designated Non-Financial Businesses and Professions (DNFBPs). DNFBPs play a critical role in the global effort to combat money laundering and terrorist financing, as recognized by the Financial Action Task Force (FATF). While financial institutions have long been the focus of anti-money laundering regulations, DNFBPs encompass a wide range of industries and professions that are equally susceptible to exploitation by illicit actors. 
Who Needs a SCUML
The DNFBPs as defined under section 30 of the Money Laundering Prevention and Prohibition Act, 2011 are those organizations that are expected to process SCUML Certificate. Those organizations that falls under such classification are listed below:
- Dealers in Jewelry
- Car dealers
- Dealers in luxury goods
- Audit firms
- Tax consultants
- Clearing and settlement companies
- Supermarkets
- Casinos, Pool Betting and lottery businesses
- Law firms, notaries, and other independent legal practitioners
- Accountants and Accounting Firms
- Trust and Company Service Providers
- Estate Surveyors and Valuers
- Dealers in precious stones and metals
- Importers and dealers in cars or any other automobiles
- Construction companies
- Consultants and consulting companies
- Hospitality Industry
- Real estate agents, Estate developers, Estate Agents and Brokers
- Mortgage Brokers
- Dealers in mechanized farming equipment’s and machineries
- Practitioners of mechanized farming.
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