Regulation (EU) 2024/1624 (AMLR) — prevention of the use of the financial system for money laundering or terrorist financing

Current as of 19 June 202490 provisions

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["SECTION 2", "Third-country policy and money laundering and terrorist financing threats from outside the Union", "Article 32"]
Guidelines on money laundering and terrorist financing risks, trends and methods
Guidelines on money laundering and terrorist financing risks, trends and methods 1. By 10 July 2027, AMLA shall issue guidelines defining the money laundering…
["SECTION 1", "General provisions", "Article 25"]
Identification of the purpose and intended nature of a business relationship or occasional transaction
Identification of the purpose and intended nature of a business relationship or occasional transaction Before entering into a business relationship or…
["SECTION 2", "Provisions applying to groups", "Article 16"]
Group-wide requirements
Group-wide requirements 1. A parent undertaking shall ensure that the requirements on internal procedures, risk assessment and staff referred to in Section 1…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 57"]
Identification of beneficial owners for legal entities similar to express trust
Identification of beneficial owners for legal entities similar to express trust 1. In the case of legal entities other than those referred to in Article 51…
["CHAPTER VI", "INFORMATION SHARING", "Article 75"]
Exchange of information in the framework of partnerships for information sharing
Exchange of information in the framework of partnerships for information sharing 1. Members of partnerships for information sharing may share information among…
["SECTION 5", "Specific customer due diligence provisions", "Article 47"]
Specifications for the life and other investment-related insurance sector
Specifications for the life and other investment-related insurance sector For life or other investment-related insurance business, in addition to the customer…
["SECTION 1", "Internal policies, procedures and controls, risk assessment and staff", "Article 9"]
Scope of internal policies, procedures and controls
Scope of internal policies, procedures and controls 1. Obliged entities shall have in place internal policies, procedures and controls in order to ensure…
["SECTION 2", "Third-country policy and money laundering and terrorist financing threats from outside the Union", "Article 29"]
Identification of third countries with significant strategic deficiencies in their national AML/CFT regimes
Identification of third countries with significant strategic deficiencies in their national AML/CFT regimes 1. Third countries with significant strategic…
["SECTION 4", "Enhanced due diligence", "Article 41"]
Specific provisions regarding applicants for residence by investment schemes
Specific provisions regarding applicants for residence by investment schemes In addition to the customer due diligence measures laid down in Article 20, with…
["SECTION 1", "General provisions", "Article 21"]
Inability to comply with the requirement to apply customer due diligence measures
Inability to comply with the requirement to apply customer due diligence measures 1. Where an obliged entity is unable to comply with the requirement to apply…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 51"]
Identification of beneficial owners for legal entities
Identification of beneficial owners for legal entities Beneficial owners of legal entities shall be the natural persons who: (a) have, directly or indirectly…
["SECTION 3", "Other provisions", "Article 90"]
Entry into force and application
Entry into force and application This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the…
["SECTION 1", "Subject matter and definitions", "Article 2"]
Definitions
Definitions 1. For the purposes of this Regulation, the following definitions apply: (1) ‘money laundering’ means the conduct set out in Article 3, paragraphs…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 63"]
Obligations of legal entities
Obligations of legal entities 1. All legal entities created in the Union shall obtain and hold adequate, accurate and up-to-date beneficial ownership…
["SECTION 4", "Enhanced due diligence", "Article 42"]
Specific provisions regarding politically exposed persons
Specific provisions regarding politically exposed persons 1. In addition to the customer due diligence measures laid down in Article 20, obliged entities shall…
["SECTION 6", "Reliance on customer due diligence performed by other obliged entities", "Article 49"]
Process of reliance on another obliged entity
Process of reliance on another obliged entity 1. Obliged entities shall obtain from the obliged entity relied upon all the necessary information concerning the…
["SECTION 1", "Cooperation between FIUs and the EPPO", "Article 82"]
Requests for information to the EPPO
Requests for information to the EPPO 1. The EPPO shall respond without undue delay to reasoned requests for information by an FIU where that information is…
["SECTION 2", "Cooperation between FIUs and OLAF", "Article 84"]
Requests for information to OLAF
Requests for information to OLAF 1. OLAF shall respond in a timely manner to reasoned requests for information by an FIU where that information is necessary…
["CHAPTER V", "REPORTING OBLIGATIONS", "Article 71"]
Refraining from carrying out transactions
Refraining from carrying out transactions 1. Obliged entities shall refrain from carrying out transactions which they know or suspect to be related to proceeds…
["SECTION 1", "Internal policies, procedures and controls, risk assessment and staff", "Article 12"]
Awareness of requirements
Awareness of requirements Obliged entities shall take measures to ensure that their employees or persons in comparable positions whose function so requires…
["SECTION 4", "Enhanced due diligence", "Article 38"]
Specific measures for individual third-country respondent institutions
Specific measures for individual third-country respondent institutions 1. Credit institutions and financial institutions shall apply the measures laid down in…
["SECTION 1", "Cooperation between FIUs and the EPPO", "Article 81"]
Cooperation between FIUs and the EPPO
— Article 81 — Cooperation between FIUs and the EPPO 1. Pursuant to Article 24 of Regulation (EU) 2017/1939, each FIU shall without undue delay report to the…
["SECTION 1", "General provisions", "Article 27"]
Temporary measures for customers subject to UN financial sanctions
Temporary measures for customers subject to UN financial sanctions 1. In respect of customers that are subject to UN financial sanctions or that are controlled…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 64"]
Trustee obligations
Trustee obligations 1. In the case of any legal arrangement administered in a Member State or whose trustee or the person holding an equivalent position in a…
["SECTION 1", "Internal policies, procedures and controls, risk assessment and staff", "Article 13"]
Integrity of employees
Integrity of employees 1. Any employee, or person in a comparable position, including agents and distributors, directly participating in the obliged entity’s…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 61"]
Identification of beneficial owners of collective investment undertakings
Identification of beneficial owners of collective investment undertakings By way of derogation from Article 51, first paragraph and Article 58(1), the…
["SECTION 3", "Other provisions", "Article 86"]
Committee procedure
Committee procedure 1. The Commission shall be assisted by the Committee on the Prevention of Money Laundering and Terrorist Financing established by Article…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 60"]
Identification of objects of a power and default takers in discretionary trusts
Identification of objects of a power and default takers in discretionary trusts In the case of discretionary trusts, where beneficiaries have yet to be…
["SECTION 4", "Enhanced due diligence", "Article 36"]
Specific enhanced due diligence measures for cross-border correspondent relationships
Specific enhanced due diligence measures for cross-border correspondent relationships With respect to cross-border correspondent relationships, including…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 54"]
Coexistence of ownership interest and control in the ownership structure
Coexistence of ownership interest and control in the ownership structure Where corporate entities are owned through a multi-layered ownership structure, and in…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 58"]
Identification of beneficial owners for express trusts and similar legal arrangements
Identification of beneficial owners for express trusts and similar legal arrangements 1. The beneficial owners of express trusts shall be all the following…
["CHAPTER V", "REPORTING OBLIGATIONS", "Article 74"]
Threshold-based reports of transactions in certain high-value goods
Threshold-based reports of transactions in certain high-value goods 1. Persons trading in high-value goods shall report to the FIU all transactions involving…
["SECTION 4", "Enhanced due diligence", "Article 46"]
Family members and persons known to be close associates of politically exposed persons
Family members and persons known to be close associates of politically exposed persons The measures referred to in Articles 42, 44 and 45 shall also apply to…
["SECTION 1", "Subject matter and definitions", "Article 1"]
Subject matter
and definitions — Article 1 — Subject matter This Regulation lays down rules concerning: (a) the measures to be applied by obliged entities to prevent money…
["SECTION 3", "Other provisions", "Article 85"]
Exercise of the delegation
Exercise of the delegation 1. The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in this Article. 2. The…
["CHAPTER VII", "DATA PROTECTION AND RECORD RETENTION", "Article 76"]
Processing of personal data
Processing of personal data 1. To the extent that it is strictly necessary for the purposes of preventing money laundering and terrorist financing, obliged…
["SECTION 6", "Reliance on customer due diligence performed by other obliged entities", "Article 48"]
General provisions relating to reliance on other obliged entities
General provisions relating to reliance on other obliged entities 1. Obliged entities may rely on other obliged entities, whether located in a Member State or…
["SECTION 1", "Internal policies, procedures and controls, risk assessment and staff", "Article 10"]
Business-wide risk assessment
Business-wide risk assessment 1. Obliged entities shall take appropriate measures, proportionate to the nature of their business, including its risks and…
["SECTION 2", "Cooperation between FIUs and OLAF", "Article 83"]
Cooperation between FIUs and OLAF
— Article 83 — Cooperation between FIUs and OLAF 1. Pursuant to Article 8(3) of Regulation (EU, Euratom) No 883/2013 of the European Parliament and of the…
["SECTION 3", "Other provisions", "Article 89"]
Relation to Directive (EU) 2015/849
Relation to Directive (EU) 2015/849 References to Directive (EU) 2015/849 shall be construed as references to this Regulation and to Directive (EU) 2024/1640…
["SECTION 2", "Scope", "Article 4"]
Exemptions for certain providers of gambling services
Exemptions for certain providers of gambling services 1. Member States may decide to exempt, in full or in part, providers of gambling services from the…
["SECTION 3", "Outsourcing", "Article 18"]
Outsourcing
— Article 18 — Outsourcing 1. Obliged entities may outsource tasks resulting from this Regulation to service providers. The obliged entity shall notify the…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 62"]
Beneficial ownership information
Beneficial ownership information 1. Legal entities and trustees of express trusts or persons holding equivalent positions in similar legal arrangements shall…
["CHAPTER VII", "DATA PROTECTION AND RECORD RETENTION", "Article 77"]
Record retention
Record retention 1. Obliged entities shall retain the following documents and information: (a) a copy of the documents and information obtained in the…
["CHAPTER V", "REPORTING OBLIGATIONS", "Article 72"]
Disclosure to FIU
Disclosure to FIU Disclosure of information to the FIU in good faith by an obliged entity or by an employee or director of such an obliged entity in accordance…
["SECTION 4", "Enhanced due diligence", "Article 45"]
Measures for persons who cease to be politically exposed persons
Measures for persons who cease to be politically exposed persons 1. Where a politically exposed person is no longer entrusted with a prominent public function…
["SECTION 1", "General provisions", "Article 19"]
Application of customer due diligence measures
Application of customer due diligence measures 1. Obliged entities shall apply customer due diligence measures in any of the following circumstances: (a) when…
["SECTION 4", "Enhanced due diligence", "Article 44"]
Politically exposed persons who are beneficiaries of insurance policies
Politically exposed persons who are beneficiaries of insurance policies Obliged entities shall take reasonable measures to determine whether the beneficiaries…
["SECTION 3", "Cross-border operations", "Article 8"]
Notification of cross-border operations and application of national law
Notification of cross-border operations and application of national law 1. Obliged entities wishing to carry out activities within the territory of another…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 67"]
Foreign legal entities and foreign legal arrangements
Foreign legal entities and foreign legal arrangements 1. Legal entities created outside the Union and trustees of express trusts or persons holding an…
["CHAPTER VIII", "MEASURES TO MITIGATE RISKS DERIVING FROM ANONYMOUS INSTRUMENTS", "Article 80"]
Limits to large cash payments in exchange for goods or services
Limits to large cash payments in exchange for goods or services 1. Persons trading in goods or providing services may accept or make a payment in cash only up…
["SECTION 3", "Other provisions", "Article 88"]
Reports
Reports By 10 July 2030, the Commission shall submit reports to the European Parliament and to the Council assessing the necessity and proportionality of: (a)…
["SECTION 1", "Internal policies, procedures and controls, risk assessment and staff", "Article 14"]
Reporting of breaches and protection of reporting persons
Reporting of breaches and protection of reporting persons 1. Directive (EU) 2019/1937 of the European Parliament and of the Council (41) shall apply to the…
["CHAPTER V", "REPORTING OBLIGATIONS", "Article 73"]
Prohibition of disclosure
Prohibition of disclosure 1. Obliged entities and their directors, employees, or persons in comparable positions, including agents and distributors, shall not…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 55"]
Ownership structures involving legal arrangements or similar legal entities
Ownership structures involving legal arrangements or similar legal entities Where legal entities referred to in Article 57 or legal arrangements have an…
["SECTION 2", "Scope", "Article 5"]
Exemptions for certain professional football clubs
Exemptions for certain professional football clubs 1. Member States may decide to exempt, in full or in part, professional football clubs that participate in…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 68"]
Penalties
Penalties 1. Member States shall lay down rules on the penalties applicable to breaches of the provisions of this Chapter and shall take all measures necessary…
["CHAPTER VIII", "MEASURES TO MITIGATE RISKS DERIVING FROM ANONYMOUS INSTRUMENTS", "Article 79"]
Anonymous accounts and bearer shares and bearer share warrants
Anonymous accounts and bearer shares and bearer share warrants 1. Credit institutions, financial institutions and crypto-asset service providers shall be…
["SECTION 1", "General provisions", "Article 22"]
Identification and verification of the identity of customers and beneficial owners
Identification and verification of the identity of customers and beneficial owners 1. With the exception of cases of lower risk to which measures under Section…
["CHAPTER VII", "DATA PROTECTION AND RECORD RETENTION", "Article 78"]
Provision of records to competent authorities
Provision of records to competent authorities Obliged entities shall have systems in place that enable them to respond fully and speedily to enquiries from…
["SECTION 2", "Third-country policy and money laundering and terrorist financing threats from outside the Union", "Article 31"]
Identification of third countries posing a specific and serious threat to the Union’s financial system
Identification of third countries posing a specific and serious threat to the Union’s financial system 1. The Commission is empowered to adopt delegated acts…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 65"]
Exceptions to obligations of legal entities and legal arrangements
Exceptions to obligations of legal entities and legal arrangements Articles 63 and 64 shall not apply to: (a) companies whose securities are admitted to…
["SECTION 2", "Provisions applying to groups", "Article 17"]
Branches and subsidiaries in third countries
Branches and subsidiaries in third countries 1. Where branches or subsidiaries of obliged entities are located in third countries where the minimum AML/CFT…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 66"]
Nominee obligations
Nominee obligations Nominee shareholders and nominee directors of a legal entity shall maintain adequate, accurate and up-to-date information on the identity…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 53"]
Beneficial ownership through control
Beneficial ownership through control 1. Control over a corporate or other legal entity shall be exercised through ownership interest or via other means. 2. For…
["CHAPTER V", "REPORTING OBLIGATIONS", "Article 69"]
Reporting of suspicions
Reporting of suspicions 1. Obliged entities, and, where applicable, their directors and employees, shall cooperate fully with the FIU by promptly: (a)…
["SECTION 6", "Reliance on customer due diligence performed by other obliged entities", "Article 50"]
Guidelines on reliance on other obliged entities
Guidelines on reliance on other obliged entities By 10 July 2027, AMLA shall issue guidelines addressed to obliged entities on: (a) the conditions which are…
["SECTION 3", "Simplified due diligence", "Article 33"]
Simplified due diligence measures
Simplified due diligence measures 1. Where, taking into account the risk factors set out in Annexes II and III, the business relationship or transaction…
["SECTION 2", "Scope", "Article 7"]
Prior notification of exemptions
Prior notification of exemptions 1. Member States shall notify the Commission of any exemption that they intend to grant in accordance with Articles 4, 5 and 6…
["SECTION 2", "Scope", "Article 6"]
Exemptions for certain financial activities
Exemptions for certain financial activities 1. With the exception of persons engaged in the activity of money remittance as defined in Article 4, point (22)…
["CHAPTER V", "REPORTING OBLIGATIONS", "Article 70"]
Specific provisions for reporting of suspicions by certain categories of obliged entities
Specific provisions for reporting of suspicions by certain categories of obliged entities 1. By way of derogation from Article 69 (1), Member States may allow…
["SECTION 1", "General provisions", "Article 28"]
Regulatory technical standards on the information necessary for the performance of customer due diligence
Regulatory technical standards on the information necessary for the performance of customer due diligence 1. By 10 July 2026, AMLA shall develop draft…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 52"]
Beneficial ownership through ownership interest
Beneficial ownership through ownership interest 1. For the purpose of Article 51, first paragraph, point (a), ‘an ownership interest in the corporate entity’…
["SECTION 2", "Scope", "Article 3"]
Obliged entities
Obliged entities The following entities are to be considered obliged entities for the purposes of this Regulation: (1) credit institutions; (2) financial…
["SECTION 4", "Enhanced due diligence", "Article 39"]
Prohibition of correspondent relationships with shell institutions
Prohibition of correspondent relationships with shell institutions 1. Credit institutions and financial institutions shall not enter into, or continue, a…
["SECTION 1", "General provisions", "Article 20"]
Customer due diligence measures
Customer due diligence measures 1. For the purpose of conducting customer due diligence, obliged entities shall apply all of the following measures: (a)…
["SECTION 3", "Other provisions", "Article 87"]
Review
Review By 10 July 2032, and every 3 years thereafter, the Commission shall review the application of this Regulation and submit a report to the European…
["SECTION 1", "General provisions", "Article 24"]
Reporting of discrepancies with information contained in beneficial ownership registers
Reporting of discrepancies with information contained in beneficial ownership registers 1. Obliged entities shall report to the central registers any…
["SECTION 1", "General provisions", "Article 26"]
Ongoing monitoring of the business relationship and monitoring of transactions performed by customers
Ongoing monitoring of the business relationship and monitoring of transactions performed by customers 1. Obliged entities shall conduct ongoing monitoring of…
["SECTION 4", "Enhanced due diligence", "Article 43"]
List of prominent public functions
List of prominent public functions 1. Each Member State shall issue and keep up-to-date a list indicating the exact functions which, in accordance with its…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 59"]
Identification of a class of beneficiaries
Identification of a class of beneficiaries 1. In the case of legal entities similar to express trusts under Article 57 or, with the exception of discretionary…
["SECTION 1", "Internal policies, procedures and controls, risk assessment and staff", "Article 15"]
Situation of specific employees
Situation of specific employees Where a natural person falling within any of the categories listed in Article 3, point (3) performs professional activities as…
["SECTION 4", "Enhanced due diligence", "Article 40"]
Measures to mitigate risks in relation to transactions with a self-hosted address
Measures to mitigate risks in relation to transactions with a self-hosted address 1. Crypto-asset service providers shall identify and assess the risk of money…
["SECTION 1", "Internal policies, procedures and controls, risk assessment and staff", "Article 11"]
Compliance functions
Compliance functions 1. Obliged entities shall appoint one member of the management body in its management function who shall be responsible for ensuring…
["SECTION 4", "Enhanced due diligence", "Article 35"]
Countermeasures to mitigate money laundering and terrorist financing threats from outside the Union
Countermeasures to mitigate money laundering and terrorist financing threats from outside the Union For the purposes of Articles 29 and 31, the Commission may…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 56"]
Notifications
Notifications Each Member State shall notify to the Commission by 10 October 2027 a list of the types of legal entities existing under its national law with…
["SECTION 4", "Enhanced due diligence", "Article 37"]
Specific enhanced due diligence measures for cross-border correspondent relationships for crypto-asset service providers
Specific enhanced due diligence measures for cross-border correspondent relationships for crypto-asset service providers 1. By way of derogation from Article…
["SECTION 4", "Enhanced due diligence", "Article 34"]
Scope of application of enhanced due diligence measures
Scope of application of enhanced due diligence measures 1. In the cases referred to in Articles 29, 30, 31 and 36 to 46, as well as in other cases of higher…
["SECTION 1", "General provisions", "Article 23"]
Timing of the verification of the customer and beneficial owner identity
Timing of the verification of the customer and beneficial owner identity 1. Verification of the identity of the customer, the beneficial owner, and of any…
["SECTION 2", "Third-country policy and money laundering and terrorist financing threats from outside the Union", "Article 30"]
Identification of third countries with compliance weaknesses in their national AML/CFT regimes
Identification of third countries with compliance weaknesses in their national AML/CFT regimes 1. Third countries with compliance weaknesses in their national…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 53"]
Beneficial ownership through control
Beneficial ownership through control 4. In addition to paragraph 3, control of the legal entity may be exercised via other means. Depending on the particular…
["SECTION 3", "Other provisions", "Article 85"]
Exercise of the delegation
Exercise of the delegation 6. A delegated act adopted pursuant to Article 29, 30, 31 or 34 shall enter into force only if no objection has been expressed…
["SECTION 2", "Scope", "Article 6"]
Exemptions for certain financial activities
Exemptions for certain financial activities 3. For the purposes of paragraph 1, point (b), Member States shall apply a maximum threshold per customer and per…
["CHAPTER V", "REPORTING OBLIGATIONS", "Article 70"]
Specific provisions for reporting of suspicions by certain categories of obliged entities
Specific provisions for reporting of suspicions by certain categories of obliged entities (1) to the extent that such exemption relates to information that…
["SECTION 1", "General provisions", "Article 21"]
Inability to comply with the requirement to apply customer due diligence measures
Inability to comply with the requirement to apply customer due diligence measures 2. Paragraph 1 shall not apply to notaries, lawyers, other independent legal…
["SECTION 4", "Enhanced due diligence", "Article 37"]
Specific enhanced due diligence measures for cross-border correspondent relationships for crypto-asset service providers
Specific enhanced due diligence measures for cross-border correspondent relationships for crypto-asset service providers 2. Crypto-asset service providers…
["SECTION 1", "General provisions", "Article 23"]
Timing of the verification of the customer and beneficial owner identity
Timing of the verification of the customer and beneficial owner identity (1), points (a) and (b), is obtained. 4. Whenever entering into a new business…
["SECTION 3", "Simplified due diligence", "Article 33"]
Simplified due diligence measures
Simplified due diligence measures 3. For the purpose of applying simplified due diligence measures referred to in paragraph 1, point (a), obliged entities…
["CHAPTER VIII", "MEASURES TO MITIGATE RISKS DERIVING FROM ANONYMOUS INSTRUMENTS", "Article 80"]
Limits to large cash payments in exchange for goods or services
Limits to large cash payments in exchange for goods or services (11), of Directive (EU) 2015/2366. Payments or deposits referred to in the first subparagraph…
["SECTION 6", "Reliance on customer due diligence performed by other obliged entities", "Article 48"]
General provisions relating to reliance on other obliged entities
General provisions relating to reliance on other obliged entities 3. In the case of obliged entities that are part of a group, compliance with the requirements…
["SECTION 3", "Cross-border operations", "Article 8"]
Notification of cross-border operations and application of national law
Notification of cross-border operations and application of national law (1) of Directive (EU) 2024/1640 operate, in other Member States than the one where they…
["CHAPTER VII", "DATA PROTECTION AND RECORD RETENTION", "Article 76"]
Processing of personal data
Processing of personal data 4. Personal data shall be processed by obliged entities on the basis of this Regulation only for the purposes of the prevention of…
["SECTION 1", "Internal policies, procedures and controls, risk assessment and staff", "Article 9"]
Scope of internal policies, procedures and controls
Scope of internal policies, procedures and controls 2. The policies, procedures and controls referred to in paragraph 1 shall include: (a) internal policies…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 64"]
Trustee obligations
Trustee obligations 2. The trustee or the person holding an equivalent position in a similar legal arrangement shall obtain and report to the central register…
["SECTION 4", "Enhanced due diligence", "Article 34"]
Scope of application of enhanced due diligence measures
Scope of application of enhanced due diligence measures 4. With the exception of the cases covered by Section 2 of this Chapter, in cases of higher risk as…
["CHAPTER VIII", "MEASURES TO MITIGATE RISKS DERIVING FROM ANONYMOUS INSTRUMENTS", "Article 79"]
Anonymous accounts and bearer shares and bearer share warrants
Anonymous accounts and bearer shares and bearer share warrants (4), of that Regulation shall be permitted to issue new and maintain existing bearer shares. For…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 58"]
Identification of beneficial owners for express trusts and similar legal arrangements
Identification of beneficial owners for express trusts and similar legal arrangements 4. Member States shall notify to the Commission by 10 October 2027 a list…
["SECTION 3", "Outsourcing", "Article 18"]
Outsourcing
— Article 18 — Outsourcing (2); (b) the approval of the obliged entity’s internal policies, procedures and controls pursuant to Article 9; (c) decision on the…
["SECTION 2", "Scope", "Article 3"]
Obliged entities
Obliged entities (3) the following natural or legal persons acting in the exercise of their professional activities: (a) auditors, external accountants and tax…
["SECTION 1", "General provisions", "Article 26"]
Ongoing monitoring of the business relationship and monitoring of transactions performed by customers
Ongoing monitoring of the business relationship and monitoring of transactions performed by customers (2). Where business relationships cover more than one…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 52"]
Beneficial ownership through ownership interest
Beneficial ownership through ownership interest (4), point (c), of Directive (EU) 2024/1640 categories of corporate entities that are exposed to higher money…
["SECTION 1", "Internal policies, procedures and controls, risk assessment and staff", "Article 10"]
Business-wide risk assessment
Business-wide risk assessment 2. The business-wide risk assessment drawn up by the obliged entity pursuant to paragraph 1 shall be documented, kept up-to-date…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 62"]
Beneficial ownership information
Beneficial ownership information (1), point (b), or, in the case of legal arrangements of which the natural person is the beneficial owner, basic information…
["SECTION 2", "Provisions applying to groups", "Article 16"]
Group-wide requirements
Group-wide requirements 2. Compliance functions shall be established at the level of the group. Those functions shall include a compliance manager at the level…
["SECTION 2", "Third-country policy and money laundering and terrorist financing threats from outside the Union", "Article 29"]
Identification of third countries with significant strategic deficiencies in their national AML/CFT regimes
Identification of third countries with significant strategic deficiencies in their national AML/CFT regimes 4. Where a third country is identified in…
["CHAPTER V", "REPORTING OBLIGATIONS", "Article 73"]
Prohibition of disclosure
Prohibition of disclosure (2), (3)(a) and (b), in cases relating to the same transaction involving two or more obliged entities, and by way of derogation from…
["CHAPTER VI", "INFORMATION SHARING", "Article 75"]
Exchange of information in the framework of partnerships for information sharing
Exchange of information in the framework of partnerships for information sharing 3. Information exchanged in the framework of a partnership for information…
["SECTION 2", "Third-country policy and money laundering and terrorist financing threats from outside the Union", "Article 30"]
Identification of third countries with compliance weaknesses in their national AML/CFT regimes
Identification of third countries with compliance weaknesses in their national AML/CFT regimes (4), that obliged entities shall apply to mitigate risks related…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 67"]
Foreign legal entities and foreign legal arrangements
Foreign legal entities and foreign legal arrangements 2. By way of derogation from paragraph 1, point (a), where legal entities created outside the Union enter…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 63"]
Obligations of legal entities
Obligations of legal entities (4) of Directive (EU) 2024/1640. 3. Where, having exhausted all possible means of identification pursuant to Articles 51 to 57…
["SECTION 1", "General provisions", "Article 19"]
Application of customer due diligence measures
Application of customer due diligence measures (9), of Regulation (EU) 2023/1113, that amounts to a value of at least EUR 1 000, or the equivalent in national…
["SECTION 4", "Enhanced due diligence", "Article 38"]
Specific measures for individual third-country respondent institutions
Specific measures for individual third-country respondent institutions 4. Prior to issuing the recommendation referred to in paragraph 2, AMLA shall consult…
["CHAPTER V", "REPORTING OBLIGATIONS", "Article 69"]
Reporting of suspicions
Reporting of suspicions 2. For the purposes of paragraph 1, obliged entities shall assess transactions or activities carried out by their customers on the…
["SECTION 1", "Subject matter and definitions", "Article 2"]
Definitions
Definitions (6) ‘financial institution’ means: (a) an undertaking other than a credit institution or an investment firm, which carries out one or more of the…
["SECTION 1", "General provisions", "Article 24"]
Reporting of discrepancies with information contained in beneficial ownership registers
Reporting of discrepancies with information contained in beneficial ownership registers 3. Where a customer has not submitted the correct information within…
["SECTION 1", "Internal policies, procedures and controls, risk assessment and staff", "Article 11"]
Compliance functions
Compliance functions (6). In the case of obliged entities subject to checks on their senior management or beneficial owners pursuant to Article 6 of Directive…
["SECTION 1", "General provisions", "Article 28"]
Regulatory technical standards on the information necessary for the performance of customer due diligence
Regulatory technical standards on the information necessary for the performance of customer due diligence (1), points (a) and (b), in the case of standard…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 57"]
Identification of beneficial owners for legal entities similar to express trust
Identification of beneficial owners for legal entities similar to express trust 4. The Commission may adopt, by means of an implementing act, a list of types…
["SECTION 4", "Enhanced due diligence", "Article 43"]
List of prominent public functions
List of prominent public functions (34), where the lists notified by Member States pursuant to paragraph 1 identify common additional categories of prominent…
["SECTION 1", "General provisions", "Article 22"]
Identification and verification of the identity of customers and beneficial owners
Identification and verification of the identity of customers and beneficial owners only the assets that are to be managed in the context of the business…
["SECTION 2", "Third-country policy and money laundering and terrorist financing threats from outside the Union", "Article 31"]
Identification of third countries posing a specific and serious threat to the Union’s financial system
Identification of third countries posing a specific and serious threat to the Union’s financial system 4. Where AMLA identifies that a third country other than…
["CHAPTER VII", "DATA PROTECTION AND RECORD RETENTION", "Article 77"]
Record retention
Record retention 2. By way of derogation from paragraph 1, obliged entities may decide to replace the retention of copies of the information by a retention of…
["SECTION 1", "General provisions", "Article 20"]
Customer due diligence measures
Customer due diligence measures close associate; (h) where a transaction or activity is being conducted on behalf of or for the benefit of natural persons…
["SECTION 2", "Provisions applying to groups", "Article 16"]
Group-wide requirements
Group-wide requirements 3. The policies, procedures and controls pertaining to the sharing of information referred to in paragraph 1 shall require obliged…
["SECTION 1", "Internal policies, procedures and controls, risk assessment and staff", "Article 9"]
Scope of internal policies, procedures and controls
Scope of internal policies, procedures and controls (b) internal controls and an independent audit function to test the internal policies and procedures…
["SECTION 4", "Enhanced due diligence", "Article 38"]
Specific measures for individual third-country respondent institutions
Specific measures for individual third-country respondent institutions 6. In relation to third-country respondent institutions referred to in paragraph 1…
["SECTION 1", "General provisions", "Article 22"]
Identification and verification of the identity of customers and beneficial owners
Identification and verification of the identity of customers and beneficial owners (1), second subparagraph, point (a). Where, after having exhausted all…
["SECTION 1", "Internal policies, procedures and controls, risk assessment and staff", "Article 11"]
Compliance functions
Compliance functions (4) of Directive (EU) 2024/1640. 3. Obliged entities shall provide the compliance functions with adequate resources, including staff and…
["SECTION 4", "Enhanced due diligence", "Article 34"]
Scope of application of enhanced due diligence measures
Scope of application of enhanced due diligence measures 5. Where a business relationship that is identified as having a higher risk involves the handling of…
["SECTION 3", "Outsourcing", "Article 18"]
Outsourcing
— Article 18 — Outsourcing 6. By way of derogation from paragraph 1, obliged entities shall not outsource tasks deriving from the requirements under this…
["SECTION 2", "Third-country policy and money laundering and terrorist financing threats from outside the Union", "Article 29"]
Identification of third countries with significant strategic deficiencies in their national AML/CFT regimes
Identification of third countries with significant strategic deficiencies in their national AML/CFT regimes 7. The Commission shall review the delegated acts…
["CHAPTER VI", "INFORMATION SHARING", "Article 75"]
Exchange of information in the framework of partnerships for information sharing
Exchange of information in the framework of partnerships for information sharing (1); (g) information on suspicions pursuant to Article 69. The information…
["SECTION 1", "Subject matter and definitions", "Article 2"]
Definitions
Definitions (2) of Directive 2009/65/EC and its management company as defined in Article 2 (1), point (b), of that Directive or an investment company…
["SECTION 1", "General provisions", "Article 19"]
Application of customer due diligence measures
Application of customer due diligence measures (3), a limit to large cash payments of EUR 3 000 or less, or the equivalent in national currency, except in the…
["SECTION 1", "General provisions", "Article 26"]
Ongoing monitoring of the business relationship and monitoring of transactions performed by customers
Ongoing monitoring of the business relationship and monitoring of transactions performed by customers (42); (c) they become aware of a relevant fact which…
["CHAPTER VIII", "MEASURES TO MITIGATE RISKS DERIVING FROM ANONYMOUS INSTRUMENTS", "Article 80"]
Limits to large cash payments in exchange for goods or services
Limits to large cash payments in exchange for goods or services (25), of Directive (EU) 2015/2366 other than banknotes and coins and of the measures taken by…
["SECTION 2", "Third-country policy and money laundering and terrorist financing threats from outside the Union", "Article 31"]
Identification of third countries posing a specific and serious threat to the Union’s financial system
Identification of third countries posing a specific and serious threat to the Union’s financial system (4), that obliged entities shall apply to mitigate risks…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 67"]
Foreign legal entities and foreign legal arrangements
Foreign legal entities and foreign legal arrangements 4. For the purposes of paragraph 1, point (a), obliged entities shall inform the legal entities where the…
["CHAPTER VII", "DATA PROTECTION AND RECORD RETENTION", "Article 77"]
Record retention
Record retention 4. Where, on 10 July 2027, legal proceedings concerned with the prevention, detection, investigation or prosecution of suspected money…
["CHAPTER V", "REPORTING OBLIGATIONS", "Article 69"]
Reporting of suspicions
Reporting of suspicions (2) shall transmit the information referred to in paragraph 1 of this Article to the FIU of the Member State in whose territory the…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 64"]
Trustee obligations
Trustee obligations 4. The beneficial owners of a legal arrangement other than the trustees or persons holding an equivalent position, its agents and the…
["SECTION 1", "General provisions", "Article 21"]
Inability to comply with the requirement to apply customer due diligence measures
Inability to comply with the requirement to apply customer due diligence measures 4. By 10 July 2027, AMLA shall issue joint guidelines with the European…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 63"]
Obligations of legal entities
Obligations of legal entities (1), second subparagraph, point (a) of this Regulation. For the purpose of this paragraph, ‘senior managing officials’ means the…
["SECTION 2", "Scope", "Article 3"]
Obliged entities
Obliged entities is carried out by art galleries and auction houses, where the value of the transaction or linked transactions amounts to at least EUR 10 000…
["CHAPTER VI", "INFORMATION SHARING", "Article 75"]
Exchange of information in the framework of partnerships for information sharing
Exchange of information in the framework of partnerships for information sharing (3), and that record shall contain reference to the fact that the information…
["CHAPTER V", "REPORTING OBLIGATIONS", "Article 69"]
Reporting of suspicions
Reporting of suspicions 8. Where the activities of a partnership for information sharing result in the knowledge, suspicion or reasonable grounds to suspect…
["SECTION 4", "Enhanced due diligence", "Article 34"]
Scope of application of enhanced due diligence measures
Scope of application of enhanced due diligence measures 6. With the exception of the cases covered by Section 2 of this Chapter, where Member States identify…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 67"]
Foreign legal entities and foreign legal arrangements
Foreign legal entities and foreign legal arrangements 6. Where the legal entity, the trustee of the express trust or the person holding an equivalent position…
["SECTION 1", "General provisions", "Article 19"]
Application of customer due diligence measures
Application of customer due diligence measures (3) (j), in addition to their direct customer, the supplier of goods; (b) in the case of notaries, lawyers and…
["SECTION 1", "Subject matter and definitions", "Article 2"]
Definitions
Definitions (5), of Regulation (EU) 2023/1114 except when falling under the categories listed in Article 2 (4) of that Regulation; (8) ‘crypto-asset services’…
["SECTION 2", "Provisions applying to groups", "Article 16"]
Group-wide requirements
Group-wide requirements (42)(b), and the conditions under which the provisions of this Article apply to entities that are part of structures which share common…
["SECTION 1", "General provisions", "Article 22"]
Identification and verification of the identity of customers and beneficial owners
Identification and verification of the identity of customers and beneficial owners 4. In the case of beneficiaries of trusts or similar legal entities or…
["SECTION 1", "Internal policies, procedures and controls, risk assessment and staff", "Article 11"]
Compliance functions
Compliance functions (2), point (b), can report directly to the management body in its management function and, where such a body exists, to the management…
["SECTION 3", "Outsourcing", "Article 18"]
Outsourcing
— Article 18 — Outsourcing (25), of Directive (EU) 2015/2366 from investors to another entity, it may outsource the task referred to in paragraph 3, points…
["CHAPTER IV", "BENEFICIAL OWNERSHIP TRANSPARENCY", "Article 64"]
Trustee obligations
Trustee obligations 7. In the cases referred to in paragraph 6 of this Article, when providing beneficial ownership information in accordance with Article 20…
["SECTION 1", "General provisions", "Article 19"]
Application of customer due diligence measures
Application of customer due diligence measures (1), points (a), (b) and (c), with respect to electronic money on the basis of the proven low risk posed by the…
["SECTION 1", "Subject matter and definitions", "Article 2"]
Definitions
Definitions (12) ‘gambling service’ means a service which involves wagering a stake with monetary value in games of chance, including those with an element of…
["SECTION 4", "Enhanced due diligence", "Article 34"]
Scope of application of enhanced due diligence measures
Scope of application of enhanced due diligence measures 8. Enhanced due diligence measures shall not be invoked automatically with respect to branches or…
["CHAPTER VI", "INFORMATION SHARING", "Article 75"]
Exchange of information in the framework of partnerships for information sharing
Exchange of information in the framework of partnerships for information sharing information to the extent that this is necessary for the performance of their…
["SECTION 1", "General provisions", "Article 22"]
Identification and verification of the identity of customers and beneficial owners
Identification and verification of the identity of customers and beneficial owners 7. Obliged entities shall verify the identity of the beneficial owner and…
["SECTION 1", "Subject matter and definitions", "Article 2"]
Definitions
Definitions (17) ‘electronic money’ means electronic money as defined in Article 2, point (2), of Directive 2009/110/EC of the European Parliament and of the…
["CHAPTER VI", "INFORMATION SHARING", "Article 75"]
Exchange of information in the framework of partnerships for information sharing
Exchange of information in the framework of partnerships for information sharing (1); (c) the information is provided to AMLA pursuant to Article 93 of…
["SECTION 1", "General provisions", "Article 19"]
Application of customer due diligence measures
Application of customer due diligence measures (1), point (a), by identifying the customer and verifying the customer’s identity upon entry to the casino or…
["SECTION 1", "Subject matter and definitions", "Article 2"]
Definitions
Definitions (25), of Directive (EU) 2015/2366, cheque clearing, payable-through accounts and foreign exchange services; (b) the relationships between and among…

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