What changed, Directive (EU) 2015/849

+ ## *SECTION 1* / ***Subject-matter, scope and definitions***
− ### art_1
+ ### Article 1
− Article 1
+ (a) the conversion or transfer of property, knowing that such property is derived from criminal activity or from an act of participation in such activity, for the purpose of concealing or disguising the illicit origin of the property or of assisting any person who is involved in the commission of su…
− | (a) | the conversion or transfer of property, knowing that such property is derived from criminal activity or from an act of participation in such activity, for the purpose of concealing or disguising the illicit origin of the property or of assisting any person who is involved in the commission o…
− | --- | --- |
+ (b) the concealment or disguise of the true nature, source, location, disposition, movement, rights with respect to, or ownership of, property, knowing that such property is derived from criminal activity or from an act of participation in such an activity;
− | (b) | the concealment or disguise of the true nature, source, location, disposition, movement, rights with respect to, or ownership of, property, knowing that such property is derived from criminal activity or from an act of participation in such an activity; |
− | --- | --- |
+ (c) the acquisition, possession or use of property, knowing, at the time of receipt, that such property was derived from criminal activity or from an act of participation in such an activity;
− | (c) | the acquisition, possession or use of property, knowing, at the time of receipt, that such property was derived from criminal activity or from an act of participation in such an activity; |
− | --- | --- |
+ (d) participation in, association to commit, attempts to commit and aiding, abetting, facilitating and counselling the commission of any of the actions referred to in points (a), (b) and (c).
− | (d) | participation in, association to commit, attempts to commit and aiding, abetting, facilitating and counselling the commission of any of the actions referred to in points (a), (b) and (c). |
− | --- | --- |
+ 5. For the purposes of this Directive, ‘terrorist financing’ means the provision or collection of funds, by any means, directly or indirectly, with the intention that they be used or in the knowledge that they are to be used, in full or in part, in order to carry out any of the offences within the m…
− 5. For the purposes of this Directive, ‘terrorist financing’ means the provision or collection of funds, by any means, directly or indirectly, with the intention that they be used or in the knowledge that they are to be used, in full or in part, in order to carry out any of the offences within the m…
+ 
+ ### Article 2
+ 
+ 1. This Directive shall apply to the following obliged entities:
+ 
+ (1) credit institutions;
+ 
+ (2) financial institutions;
+ 
+ (3) the following natural or legal persons acting in the exercise of their professional activities:
+ 
+ (a) auditors, external accountants and tax advisors, and any other person that undertakes to provide, directly or by means of other persons to which that other person is related, material aid, assistance or advice on tax matters as principal business or professional activity;
+ 
+ (b) notaries and other independent legal professionals, where they participate, whether by acting on behalf of and for their client in any financial or real estate transaction, or by assisting in the planning or carrying out of transactions for their client concerning the:
+ 
+ (i) buying and selling of real property or business entities;
+ 
+ (ii) managing of client money, securities or other assets;
+ 
+ (iii) opening or management of bank, savings or securities accounts;
+ 
+ (iv) organisation of contributions necessary for the creation, operation or management of companies;
+ 
+ (v) creation, operation or management of trusts, companies, foundations, or similar structures;
+ 
+ (c) trust or company service providers not already covered under point (a) or (b);
+ 
+ (d) estate agents including when acting as intermediaries in the letting of immovable property, but only in relation to transactions for which the monthly rent amounts to EUR 10 000 or more;
+ (e) other persons trading in goods to the extent that payments are made or received in cash in an amount of EUR 10 000 or more, whether the transaction is carried out in a single operation or in several operations which appear to be linked;
− ### art_2
+ (f) providers of gambling services;
− Article 2
+ (g) providers engaged in exchange services between virtual currencies and fiat currencies;
− 1. This Directive shall apply to the following obliged entities:
+ (h) custodian wallet providers;
− | (1) | credit institutions; |
− | --- | --- |
+ (i) persons trading or acting as intermediaries in the trade of works of art, including when this is carried out by art galleries and auction houses, where the value of the transaction or a series of linked transactions amounts to EUR 10 000 or more;
− | (2) | financial institutions; |
− | --- | --- |
+ (j) persons storing, trading or acting as intermediaries in the trade of works of art when this is carried out by free ports, where the value of the transaction or a series of linked transactions amounts to EUR 10 000 or more.
− | (3) | the following natural or legal persons acting in the exercise of their professional activities:(a)auditors, external accountants and tax advisors;(b)notaries and other independent legal professionals, where they participate, whether by acting on behalf of and for their client in any financia…
− | --- | --- |
− | (a) | auditors, external accountants and tax advisors; |
− | (b) | notaries and other independent legal professionals, where they participate, whether by acting on behalf of and for their client in any financial or real estate transaction, or by assisting in the planning or carrying out of transactions for their client concerning the:(i)buying and selling o…
− | (i) | buying and selling of real property or business entities; |
− | (ii) | managing of client money, securities or other assets; |
− | (iii) | opening or management of bank, savings or securities accounts; |
− | (iv) | organisation of contributions necessary for the creation, operation or management of companies; |
− | (v) | creation, operation or management of trusts, companies, foundations, or similar structures; |
− | (c) | trust or company service providers not already covered under point (a) or (b); |
− | (d) | estate agents; |
− | (e) | other persons trading in goods to the extent that payments are made or received in cash in an amount of EUR 10 000 or more, whether the transaction is carried out in a single operation or in several operations which appear to be linked; |
− | (f) | providers of gambling services. |
+ (a) the financial activity is limited in absolute terms;
− | (a) | the financial activity is limited in absolute terms; |
− | --- | --- |
+ (b) the financial activity is limited on a transaction basis;
− | (b) | the financial activity is limited on a transaction basis; |
− | --- | --- |
+ (c) the financial activity is not the main activity of such persons;
− | (c) | the financial activity is not the main activity of such persons; |
− | --- | --- |
+ (d) the financial activity is ancillary and directly related to the main activity of such persons;
− | (d) | the financial activity is ancillary and directly related to the main activity of such persons; |
− | --- | --- |
+ (e) the main activity of such persons is not an activity referred to in points (a) to (d) or point (f) of paragraph 1(3);
− | (e) | the main activity of such persons is not an activity referred to in points (a) to (d) or point (f) of paragraph 1(3); |
− | --- | --- |
+ (f) the financial activity is provided only to the customers of the main activity of such persons and is not generally offered to the public.
− | (f) | the financial activity is provided only to the customers of the main activity of such persons and is not generally offered to the public. |
− | --- | --- |
+ The first subparagraph shall not apply to persons engaged in the activity of money remittance as defined in point (13) of Article 4 of Directive 2007/64/EC of the European Parliament and of the Council (2).
− The first subparagraph shall not apply to persons engaged in the activity of money remittance as defined in point (13) of Article 4 of Directive 2007/64/EC of the European Parliament and of the Council (21).
+ 5. For the purposes of point (b) of paragraph 3, Member States shall apply a maximum threshold per customer and per single transaction, whether the transaction is carried out in a single operation or in several operations which appear to be linked. That maximum threshold shall be established at nati…
− 5. For the purposes of point (b) of paragraph 3, Member States shall apply a maximum threshold per customer and per single transaction, whether the transaction is carried out in a single operation or in several operations which appear to be linked. That maximum threshold shall be established at nati…
+ 
+ ### Article 3
+ 
+ For the purposes of this Directive, the following definitions apply:
+ 
+ (1) ‘credit institution’ means a credit institution as defined in point (1) of Article 4(1) of Regulation (EU) No 575/2013 of the European Parliament and of the Council (3), including branches thereof, as defined in point (17) of Article 4(1) of that Regulation, located in the Union, whether its hea…
+ 
+ (2) ‘financial institution’ means:
+ 
+ (a) an undertaking other than a credit institution, which carries out one or more of the activities listed in points (2) to (12), (14) and (15) of Annex I to Directive 2013/36/EU of the European Parliament and of the Council (4), including the activities of currency exchange offices (bureaux de chan…
+ 
+ (b) an insurance undertaking as defined in point (1) of Article 13 of Directive 2009/138/EC of the European Parliament and of the Council (5), insofar as it carries out life assurance activities covered by that Directive;
+ 
+ (c) an investment firm as defined in point (1) of Article 4(1) of Directive 2004/39/EC of the European Parliament and of the Council (6);
+ 
+ (d) a collective investment undertaking marketing its units or shares;
+ 
+ (e) an insurance intermediary as defined in point (5) of Article 2 of Directive 2002/92/EC of the European Parliament and of the Council (7) where it acts with respect to life insurance and other investment-related services, with the exception of a tied insurance intermediary as defined in point (7)…
+ 
+ (f) branches, when located in the Union, of financial institutions as referred to in points (a) to (e), whether their head office is situated in a Member State or in a third country;
+ 
+ (3) ‘property’ means assets of any kind, whether corporeal or incorporeal, movable or immovable, tangible or intangible, and legal documents or instruments in any form including electronic or digital, evidencing title to or an interest in such assets;
+ 
+ (4) ‘criminal activity’ means any kind of criminal involvement in the commission of the following serious crimes:
+ 
+ (a) terrorist offences, offences related to a terrorist group and offences related to terrorist activities as set out in Titles II and III of Directive (EU) 2017/541 (8);
+ 
+ (b) any of the offences referred in Article 3(1)(a) of the 1988 United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances;
+ 
+ (c) the activities of criminal organisations as defined in Article 1(1) of Council Framework Decision 2008/841/JHA (9);
+ 
+ (d) fraud affecting the Union's financial interests, where it is at least serious, as defined in Article 1(1) and Article 2(1) of the Convention on the protection of the European Communities' financial interests (10);
+ 
+ (e) corruption;
+ 
+ (f) all offences, including tax crimes relating to direct taxes and indirect taxes and as defined in the national law of the Member States, which are punishable by deprivation of liberty or a detention order for a maximum of more than one year or, as regards Member States that have a minimum thresho…
+ 
+ (5) ‘self-regulatory body’ means a body that represents members of a profession and has a role in regulating them, in performing certain supervisory or monitoring type functions and in ensuring the enforcement of the rules relating to them;
+ 
+ (6) ‘beneficial owner’ means any natural person(s) who ultimately owns or controls the customer and/or the natural person(s) on whose behalf a transaction or activity is being conducted and includes at least:
+ 
+ (a) in the case of corporate entities:
+ 
+ (i) the natural person(s) who ultimately owns or controls a legal entity through direct or indirect ownership of a sufficient percentage of the shares or voting rights or ownership interest in that entity, including through bearer shareholdings, or through control via other means, other than a compa…
+ A shareholding of 25 % plus one share or an ownership interest of more than 25 % in the customer held by a natural person shall be an indication of direct ownership. A shareholding of 25 % plus one share or an ownership interest of more than 25 % in the customer held by a corporate entity, which is …
+ 
+ (ii) if, after having exhausted all possible means and provided there are no grounds for suspicion, no person under point (i) is identified, or if there is any doubt that the person(s) identified are the beneficial owner(s), the natural person(s) who hold the position of senior managing official(s),…
+ 
+ (b) in the case of trusts, all following persons:
+ 
+ (i) the settlor(s);
+ 
+ (ii) the trustee(s);
+ 
+ (iii) the protector(s), if any;
+ 
+ (iv) the beneficiaries or where the individuals benefiting from the legal arrangement or entity have yet to be determined, the class of persons in whose main interest the legal arrangement or entity is set up or operates;
+ 
+ (v) any other natural person exercising ultimate control over the trust by means of direct or indirect ownership or by other means;
+ 
+ (c) in the case of legal entities such as foundations, and legal arrangements similar to trusts, the natural person(s) holding equivalent or similar positions to those referred to in point (b);
+ 
+ (7) ‘trust or company service provider’ means any person that, by way of its business, provides any of the following services to third parties:
+ 
+ (a) the formation of companies or other legal persons;
+ 
+ (b) acting as, or arranging for another person to act as, a director or secretary of a company, a partner of a partnership, or a similar position in relation to other legal persons;
+ 
+ (c) providing a registered office, business address, correspondence or administrative address and other related services for a company, a partnership or any other legal person or arrangement;
+ 
+ (d) acting as, or arranging for another person to act as, a trustee of an express trust or a similar legal arrangement;
+ 
+ (e) acting as, or arranging for another person to act as, a nominee shareholder for another person other than a company listed on a regulated market that is subject to disclosure requirements in accordance with Union law or subject to equivalent international standards;
+ 
+ (8) ‘correspondent relationship’ means:
+ 
+ (a) the provision of banking services by one bank as the correspondent to another bank as the respondent, including providing a current or other liability account and related services, such as cash management, international funds transfers, cheque clearing, payable-through accounts and foreign excha…
+ 
+ (b) the relationships between and among credit institutions and financial institutions including where similar services are provided by a correspondent institution to a respondent institution, and including relationships established for securities transactions or funds transfers;
+ 
+ (9) ‘politically exposed person’ means a natural person who is or who has been entrusted with prominent public functions and includes the following:
+ 
+ (a) heads of State, heads of government, ministers and deputy or assistant ministers;
+ 
+ (b) members of parliament or of similar legislative bodies;
+ 
+ (c) members of the governing bodies of political parties;
+ 
+ (d) members of supreme courts, of constitutional courts or of other high-level judicial bodies, the decisions of which are not subject to further appeal, except in exceptional circumstances;
− ### art_3
+ (e) members of courts of auditors or of the boards of central banks;
− Article 3
+ (f) ambassadors, chargés d'affaires and high-ranking officers in the armed forces;
− For the purposes of this Directive, the following definitions apply:
+ (g) members of the administrative, management or supervisory bodies of State-owned enterprises;
− | (1) | ‘credit institution’ means a credit institution as defined in point (1) of Article 4(1) of Regulation (EU) No 575/2013 of the European Parliament and of the Council (22), including branches thereof, as defined in point (17) of Article 4(1) of that Regulation, located in the Union, whether it…
− | --- | --- |
+ (h) directors, deputy directors and members of the board or equivalent function of an international organisation.
− | (2) | ‘financial institution’ means:(a)an undertaking other than a credit institution, which carries out one or more of the activities listed in points (2) to (12), (14) and (15) of Annex I to Directive 2013/36/EU of the European Parliament and of the Council (23), including the activities of curr…
− | --- | --- |
− | (a) | an undertaking other than a credit institution, which carries out one or more of the activities listed in points (2) to (12), (14) and (15) of Annex I to Directive 2013/36/EU of the European Parliament and of the Council (23), including the activities of currency exchange offices (bureaux de…
− | (b) | an insurance undertaking as defined in point (1) of Article 13 of Directive 2009/138/EC of the European Parliament and of the Council (24), insofar as it carries out life assurance activities covered by that Directive; |
− | (c) | an investment firm as defined in point (1) of Article 4(1) of Directive 2004/39/EC of the European Parliament and of the Council (25); |
− | (d) | a collective investment undertaking marketing its units or shares; |
− | (e) | an insurance intermediary as defined in point (5) of Article 2 of Directive 2002/92/EC of the European Parliament and of the Council (26) where it acts with respect to life insurance and other investment-related services, with the exception of a tied insurance intermediary as defined in poin…
− | (f) | branches, when located in the Union, of financial institutions as referred to in points (a) to (e), whether their head office is situated in a Member State or in a third country; |
+ No public function referred to in points (a) to (h) shall be understood as covering middle-ranking or more junior officials;
− | (3) | ‘property’ means assets of any kind, whether corporeal or incorporeal, movable or immovable, tangible or intangible, and legal documents or instruments in any form including electronic or digital, evidencing title to or an interest in such assets; |
− | --- | --- |
+ (10) ‘family members’ includes the following:
− | (4) | ‘criminal activity’ means any kind of criminal involvement in the commission of the following serious crimes:(a)acts set out in Articles 1 to 4 of Framework Decision 2002/475/JHA;(b)any of the offences referred in Article 3(1)(a) of the 1988 United Nations Convention against Illicit Traffic …
− | --- | --- |
− | (a) | acts set out in Articles 1 to 4 of Framework Decision 2002/475/JHA; |
− | (b) | any of the offences referred in Article 3(1)(a) of the 1988 United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances; |
− | (c) | the activities of criminal organisations as defined in Article 1 of Council Joint Action 98/733/JHA (27); |
− | (d) | fraud affecting the Union's financial interests, where it is at least serious, as defined in Article 1(1) and Article 2(1) of the Convention on the protection of the European Communities' financial interests (28); |
− | (e) | corruption; |
− | (f) | all offences, including tax crimes relating to direct taxes and indirect taxes and as defined in the national law of the Member States, which are punishable by deprivation of liberty or a detention order for a maximum of more than one year or, as regards Member States that have a minimum thr…
+ (a) the spouse, or a person considered to be equivalent to a spouse, of a politically exposed person;
− | (5) | ‘self-regulatory body’ means a body that represents members of a profession and has a role in regulating them, in performing certain supervisory or monitoring type functions and in ensuring the enforcement of the rules relating to them; |
− | --- | --- |
+ (b) the children and their spouses, or persons considered to be equivalent to a spouse, of a politically exposed person;
− | (6) | ‘beneficial owner’ means any natural person(s) who ultimately owns or controls the customer and/or the natural person(s) on whose behalf a transaction or activity is being conducted and includes at least:(a)in the case of corporate entities:(i)the natural person(s) who ultimately owns or con…
− | --- | --- |
− | (a) | in the case of corporate entities:(i)the natural person(s) who ultimately owns or controls a legal entity through direct or indirect ownership of a sufficient percentage of the shares or voting rights or ownership interest in that entity, including through bearer shareholdings, or through co…
− | (i) | the natural person(s) who ultimately owns or controls a legal entity through direct or indirect ownership of a sufficient percentage of the shares or voting rights or ownership interest in that entity, including through bearer shareholdings, or through control via other means, other than a c…
− | (ii) | if, after having exhausted all possible means and provided there are no grounds for suspicion, no person under point (i) is identified, or if there is any doubt that the person(s) identified are the beneficial owner(s), the natural person(s) who hold the position of senior managing official…
− | (b) | in the case of trusts:(i)the settlor;(ii)the trustee(s);(iii)the protector, if any;(iv)the beneficiaries, or where the individuals benefiting from the legal arrangement or entity have yet to be determined, the class of persons in whose main interest the legal arrangement or entity is set up …
− | (i) | the settlor; |
− | (ii) | the trustee(s); |
− | (iii) | the protector, if any; |
− | (iv) | the beneficiaries, or where the individuals benefiting from the legal arrangement or entity have yet to be determined, the class of persons in whose main interest the legal arrangement or entity is set up or operates; |
− | (v) | any other natural person exercising ultimate control over the trust by means of direct or indirect ownership or by other means; |
− | (c) | in the case of legal entities such as foundations, and legal arrangements similar to trusts, the natural person(s) holding equivalent or similar positions to those referred to in point (b); |
+ (c) the parents of a politically exposed person;
− | (7) | ‘trust or company service provider’ means any person that, by way of its business, provides any of the following services to third parties:(a)the formation of companies or other legal persons;(b)acting as, or arranging for another person to act as, a director or secretary of a company, a par…
− | --- | --- |
− | (a) | the formation of companies or other legal persons; |
− | (b) | acting as, or arranging for another person to act as, a director or secretary of a company, a partner of a partnership, or a similar position in relation to other legal persons; |
− | (c) | providing a registered office, business address, correspondence or administrative address and other related services for a company, a partnership or any other legal person or arrangement; |
− | (d) | acting as, or arranging for another person to act as, a trustee of an express trust or a similar legal arrangement; |
− | (e) | acting as, or arranging for another person to act as, a nominee shareholder for another person other than a company listed on a regulated market that is subject to disclosure requirements in accordance with Union law or subject to equivalent international standards; |
+ (11) ‘persons known to be close associates’ means:
− | (8) | ‘correspondent relationship’ means:(a)the provision of banking services by one bank as the correspondent to another bank as the respondent, including providing a current or other liability account and related services, such as cash management, international funds transfers, cheque clearing, …
− | --- | --- |
− | (a) | the provision of banking services by one bank as the correspondent to another bank as the respondent, including providing a current or other liability account and related services, such as cash management, international funds transfers, cheque clearing, payable-through accounts and foreign e…
− | (b) | the relationships between and among credit institutions and financial institutions including where similar services are provided by a correspondent institution to a respondent institution, and including relationships established for securities transactions or funds transfers; |
+ (a) natural persons who are known to have joint beneficial ownership of legal entities or legal arrangements, or any other close business relations, with a politically exposed person;
− | (9) | ‘politically exposed person’ means a natural person who is or who has been entrusted with prominent public functions and includes the following:(a)heads of State, heads of government, ministers and deputy or assistant ministers;(b)members of parliament or of similar legislative bodies;(c)mem…
− | --- | --- |
− | (a) | heads of State, heads of government, ministers and deputy or assistant ministers; |
− | (b) | members of parliament or of similar legislative bodies; |
− | (c) | members of the governing bodies of political parties; |
− | (d) | members of supreme courts, of constitutional courts or of other high-level judicial bodies, the decisions of which are not subject to further appeal, except in exceptional circumstances; |
− | (e) | members of courts of auditors or of the boards of central banks; |
− | (f) | ambassadors, chargés d'affaires and high-ranking officers in the armed forces; |
− | (g) | members of the administrative, management or supervisory bodies of State-owned enterprises; |
− | (h) | directors, deputy directors and members of the board or equivalent function of an international organisation. |
+ (b) natural persons who have sole beneficial ownership of a legal entity or legal arrangement which is known to have been set up for the de facto benefit of a politically exposed person.
− | (10) | ‘family members’ includes the following:(a)the spouse, or a person considered to be equivalent to a spouse, of a politically exposed person;(b)the children and their spouses, or persons considered to be equivalent to a spouse, of a politically exposed person;(c)the parents of a politically …
− | --- | --- |
− | (a) | the spouse, or a person considered to be equivalent to a spouse, of a politically exposed person; |
− | (b) | the children and their spouses, or persons considered to be equivalent to a spouse, of a politically exposed person; |
− | (c) | the parents of a politically exposed person; |
+ (12) ‘senior management’ means an officer or employee with sufficient knowledge of the institution's money laundering and terrorist financing risk exposure and sufficient seniority to take decisions affecting its risk exposure, and need not, in all cases, be a member of the board of directors;
− | (11) | ‘persons known to be close associates’ means:(a)natural persons who are known to have joint beneficial ownership of legal entities or legal arrangements, or any other close business relations, with a politically exposed person;(b)natural persons who have sole beneficial ownership of a legal…
− | --- | --- |
− | (a) | natural persons who are known to have joint beneficial ownership of legal entities or legal arrangements, or any other close business relations, with a politically exposed person; |
− | (b) | natural persons who have sole beneficial ownership of a legal entity or legal arrangement which is known to have been set up for the de facto benefit of a politically exposed person. |
+ (13) ‘business relationship’ means a business, professional or commercial relationship which is connected with the professional activities of an obliged entity and which is expected, at the time when the contact is established, to have an element of duration;
− | (12) | ‘senior management’ means an officer or employee with sufficient knowledge of the institution's money laundering and terrorist financing risk exposure and sufficient seniority to take decisions affecting its risk exposure, and need not, in all cases, be a member of the board of directors; |
− | --- | --- |
+ (14) ‘gambling services’ means a service which involves wagering a stake with monetary value in games of chance, including those with an element of skill such as lotteries, casino games, poker games and betting transactions that are provided at a physical location, or by any means at a distance, by …
− | (13) | ‘business relationship’ means a business, professional or commercial relationship which is connected with the professional activities of an obliged entity and which is expected, at the time when the contact is established, to have an element of duration; |
− | --- | --- |
+ (15) ‘group’ means a group of undertakings which consists of a parent undertaking, its subsidiaries, and the entities in which the parent undertaking or its subsidiaries hold a participation, as well as undertakings linked to each other by a relationship within the meaning of Article 22 of Directive…
− | (14) | ‘gambling services’ means a service which involves wagering a stake with monetary value in games of chance, including those with an element of skill such as lotteries, casino games, poker games and betting transactions that are provided at a physical location, or by any means at a distance,…
− | --- | --- |
+ (16) ‘electronic money’ means electronic money as defined in point (2) of Article 2 of Directive 2009/110/EC, but excluding monetary value as referred to in Article 1(4) and (5) of that Directive;
− | (15) | ‘group’ means a group of undertakings which consists of a parent undertaking, its subsidiaries, and the entities in which the parent undertaking or its subsidiaries hold a participation, as well as undertakings linked to each other by a relationship within the meaning of Article 22 of Direc…
− | --- | --- |
+ (17) ‘shell bank’ means a credit institution or financial institution, or an institution that carries out activities equivalent to those carried out by credit institutions and financial institutions, incorporated in a jurisdiction in which it has no physical presence, involving meaningful mind and m…
− | (16) | ‘electronic money’ means electronic money as defined in point (2) of Article 2 of Directive 2009/110/EC; |
− | --- | --- |
+ (18) ‘virtual currencies’ means a digital representation of value that is not issued or guaranteed by a central bank or a public authority, is not necessarily attached to a legally established currency and does not possess a legal status of currency or money, but is accepted by natural or legal pers…
− | (17) | ‘shell bank’ means a credit institution or financial institution, or an institution that carries out activities equivalent to those carried out by credit institutions and financial institutions, incorporated in a jurisdiction in which it has no physical presence, involving meaningful mind a…
− | --- | --- |
+ (19) ‘custodian wallet provider’ means an entity that provides services to safeguard private cryptographic keys on behalf of its customers, to hold, store and transfer virtual currencies.
− ### art_4
+ ### Article 4
− Article 4
+ ### Article 5
− ### art_5
− 
− Article 5
+ ## *SECTION 2* / ***Risk assessment***
− ### art_6
+ ### Article 6
− Article 6
+ (a) the areas of the internal market that are at greatest risk;
− | (a) | the areas of the internal market that are at greatest risk; |
− | --- | --- |
+ (b) the risks associated with each relevant sector including, where available, estimates of the monetary volumes of money laundering provided by Eurostat for each of those sectors;
− | (b) | the risks associated with each relevant sector; |
− | --- | --- |
+ (c) the most widespread means used by criminals to launder illicit proceeds, including, where available, those particularly used in transactions between Member States and third countries, independently of the identification of a third country as high-risk pursuant to Article 9(2).
− | (c) | the most widespread means used by criminals by which to launder illicit proceeds. |
− | --- | --- |
+ 3. The Commission shall make the report referred to in paragraph 1 available to Member States and obliged entities in order to assist them to identify, understand, manage and mitigate the risk of money laundering and terrorist financing, and to allow other stakeholders, including national legislator…
− 3. The Commission shall make the report referred to in paragraph 1 available to the Member States and obliged entities in order to assist them to identify, understand, manage and mitigate the risk of money laundering and terrorist financing, and to allow other stakeholders, including national legisl…
+ ### Article 7
− ### art_7
− Article 7
− 
+ (a) use it to improve its AML/CFT regime, in particular by identifying any areas where obliged entities are to apply enhanced measures and, where appropriate, specifying the measures to be taken;
+ 
+ (b) identify, where appropriate, sectors or areas of lower or greater risk of money laundering and terrorist financing;
− | (a) | use it to improve its AML/CFT regime, in particular by identifying any areas where obliged entities are to apply enhanced measures and, where appropriate, specifying the measures to be taken; |
− | --- | --- |
+ (c) use it to assist it in the allocation and prioritisation of resources to combat money laundering and terrorist financing;
− | (b) | identify, where appropriate, sectors or areas of lower or greater risk of money laundering and terrorist financing; |
− | --- | --- |
+ (d) use it to ensure that appropriate rules are drawn up for each sector or area, in accordance with the risks of money laundering and terrorist financing;
− | (c) | use it to assist it in the allocation and prioritisation of resources to combat money laundering and terrorist financing; |
− | --- | --- |
+ (e) make appropriate information available promptly to obliged entities to facilitate the carrying out of their own money laundering and terrorist financing risk assessments;
− | (d) | use it to ensure that appropriate rules are drawn up for each sector or area, in accordance with the risks of money laundering and terrorist financing; |
− | --- | --- |
+ (f) report the institutional structure and broad procedures of their AML/CFT regime, including, inter alia, the FIU, tax authorities and prosecutors, as well as the allocated human and financial resources to the extent that this information is available;
− | (e) | make appropriate information available promptly to obliged entities to facilitate the carrying out of their own money laundering and terrorist financing risk assessments. |
− | --- | --- |
+ (g) report on national efforts and resources (labour forces and budget) allocated to combat money laundering and terrorist financing.
− 5. Member States shall make the results of their risk assessments available to the Commission, the ESAs and the other Member States.
+ 5. Member States shall make the results of their risk assessments, including their updates, available to the Commission, the ESAs and the other Member States. Other Member States may provide relevant additional information, where appropriate, to the Member State carrying out the risk assessment. A s…
− ### art_8
+ ### Article 8
− Article 8
+ (a) the development of internal policies, controls and procedures, including model risk management practices, customer due diligence, reporting, record-keeping, internal control, compliance management including, where appropriate with regard to the size and nature of the business, the appointment of…
− | (a) | the development of internal policies, controls and procedures, including model risk management practices, customer due diligence, reporting, record-keeping, internal control, compliance management including, where appropriate with regard to the size and nature of the business, the appointmen…
− | --- | --- |
+ (b) where appropriate with regard to the size and nature of the business, an independent audit function to test the internal policies, controls and procedures referred to in point (a).
− | (b) | where appropriate with regard to the size and nature of the business, an independent audit function to test the internal policies, controls and procedures referred to in point (a). |
− | --- | --- |
+ ## *SECTION 3* / ***Third-country policy***
− ### art_9
+ ### Article 9
− Article 9
+ 
+ 2. The Commission is empowered to adopt delegated acts in accordance with Article 64 in order to identify high-risk third countries, taking into account strategic deficiencies in particular in the following areas:
+ 
+ (a) the legal and institutional AML/CFT framework of the third country, in particular:
+ (i) the criminalisation of money laundering and terrorist financing;
+ 
+ (ii) measures relating to customer due diligence;
+ 
+ (iii) requirements relating to record-keeping;
+ 
+ (iv) requirements to report suspicious transactions;
− 2. The Commission shall be empowered to adopt delegated acts in accordance with Article 64 in order to identify high-risk third countries, taking into account strategic deficiencies, in particular in relation to:
+ (v) the availability of accurate and timely information of the beneficial ownership of legal persons and arrangements to competent authorities;
− | (a) | the legal and institutional AML/CFT framework of the third country, in particular:(i)criminalisation of money laundering and terrorist financing;(ii)measures relating to customer due diligence;(iii)requirements relating to record-keeping; and(iv)requirements to report suspicious transactions…
− | --- | --- |
− | (i) | criminalisation of money laundering and terrorist financing; |
− | (ii) | measures relating to customer due diligence; |
− | (iii) | requirements relating to record-keeping; and |
− | (iv) | requirements to report suspicious transactions; |
+ (b) the powers and procedures of the third country’s competent authorities for the purposes of combating money laundering and terrorist financing including appropriately effective, proportionate and dissuasive sanctions, as well as the third country’s practice in cooperation and exchange of informat…
− | (b) | the powers and procedures of the third country's competent authorities for the purposes of combating money laundering and terrorist financing; |
− | --- | --- |
+ (c) the effectiveness of the third country’s AML/CFT system in addressing money laundering or terrorist financing risks.
− | (c) | the effectiveness of the AML/CFT system in addressing money laundering or terrorist financing risks of the third country. |
− | --- | --- |
+ 4. The Commission, when drawing up the delegated acts referred to in paragraph 2, shall take into account relevant evaluations, assessments or reports drawn up by international organisations and standard setters with competence in the field of preventing money laundering and combating terrorist fina…
− 4. The Commission shall take into account, as appropriate, when drawing up the delegated acts referred to in paragraph 2, relevant evaluations, assessments or reports drawn up by international organisations and standard setters with competence in the field of preventing money laundering and combatin…
+ ## *SECTION 1* / ***General provisions***
− ### art_10
+ ### Article 10
− Article 10
+ 1. Member States shall prohibit their credit institutions and financial institutions from keeping anonymous accounts, anonymous passbooks or anonymous safe-deposit boxes. Member States shall, in any event, require that the owners and beneficiaries of existing anonymous accounts, anonymous passbooks …
− 1. Member States shall prohibit their credit institutions and financial institutions from keeping anonymous accounts or anonymous passbooks. Member States shall, in any event, require that the owners and beneficiaries of existing anonymous accounts or anonymous passbooks be subject to customer due d…
+ ### Article 11
− ### art_11
+ Member States shall ensure that obliged entities apply customer due diligence measures in the following circumstances:
− Article 11
+ (a) when establishing a business relationship;
− Member States shall ensure that obliged entities apply customer due diligence measures in the following circumstances:
+ (b) when carrying out an occasional transaction that:
− | (a) | when establishing a business relationship; |
− | --- | --- |
+ (i) amounts to EUR 15 000 or more, whether that transaction is carried out in a single operation or in several operations which appear to be linked; or
− | (b) | when carrying out an occasional transaction that:(i)amounts to EUR 15 000 or more, whether that transaction is carried out in a single operation or in several operations which appear to be linked; or(ii)constitutes a transfer of funds, as defined in point (9) of Article 3 of Regulation (EU) …
− | --- | --- |
− | (i) | amounts to EUR 15 000 or more, whether that transaction is carried out in a single operation or in several operations which appear to be linked; or |
− | (ii) | constitutes a transfer of funds, as defined in point (9) of Article 3 of Regulation (EU) 2015/847 of the European Parliament and of the Council (30), exceeding EUR 1 000; |
+ (ii) constitutes a transfer of funds, as defined in point (9) of Article 3 of Regulation (EU) 2015/847 of the European Parliament and of the Council (12), exceeding EUR 1 000 ;
− | (c) | in the case of persons trading in goods, when carrying out occasional transactions in cash amounting to EUR 10 000 or more, whether the transaction is carried out in a single operation or in several operations which appear to be linked; |
− | --- | --- |
+ (c) in the case of persons trading in goods, when carrying out occasional transactions in cash amounting to EUR 10 000 or more, whether the transaction is carried out in a single operation or in several operations which appear to be linked;
− | (d) | for providers of gambling services, upon the collection of winnings, the wagering of a stake, or both, when carrying out transactions amounting to EUR 2 000 or more, whether the transaction is carried out in a single operation or in several operations which appear to be linked; |
− | --- | --- |
+ (d) for providers of gambling services, upon the collection of winnings, the wagering of a stake, or both, when carrying out transactions amounting to EUR 2 000 or more, whether the transaction is carried out in a single operation or in several operations which appear to be linked;
− | (e) | when there is a suspicion of money laundering or terrorist financing, regardless of any derogation, exemption or threshold; |
− | --- | --- |
+ (e) when there is a suspicion of money laundering or terrorist financing, regardless of any derogation, exemption or threshold;
− | (f) | when there are doubts about the veracity or adequacy of previously obtained customer identification data. |
− | --- | --- |
+ (f) when there are doubts about the veracity or adequacy of previously obtained customer identification data.
− ### art_12
+ ### Article 12
− Article 12
+ (a) the payment instrument is not reloadable, or has a maximum monthly payment transactions limit of EUR 150 which can be used only in that Member State;
− | (a) | the payment instrument is not reloadable, or has a maximum monthly payment transactions limit of EUR 250 which can be used only in that Member State; |
− | --- | --- |
+ (b) the maximum amount stored electronically does not exceed EUR 150;
− | (b) | the maximum amount stored electronically does not exceed EUR 250; |
− | --- | --- |
+ (c) the payment instrument is used exclusively to purchase goods or services;
− | (c) | the payment instrument is used exclusively to purchase goods or services; |
− | --- | --- |
+ (d) the payment instrument cannot be funded with anonymous electronic money;
− | (d) | the payment instrument cannot be funded with anonymous electronic money; |
− | --- | --- |
+ (e) the issuer carries out sufficient monitoring of the transactions or business relationship to enable the detection of unusual or suspicious transactions.
− | (e) | the issuer carries out sufficient monitoring of the transactions or business relationship to enable the detection of unusual or suspicious transactions. |
− | --- | --- |
+ 2. Member States shall ensure that the derogation provided for in paragraph 1 of this Article is not applicable in the case of redemption in cash or cash withdrawal of the monetary value of the electronic money where the amount redeemed exceeds EUR 50, or in the case of remote payment transactions a…
− For the purposes of point (b) of the first subparagraph, a Member State may increase the maximum amount to EUR 500 for payment instruments that can be used only in that Member State.
+ 3. Member States shall ensure that credit institutions and financial institutions acting as acquirers only accept payments carried out with anonymous prepaid cards issued in third countries where such cards meet requirements equivalent to those set out in paragraphs 1 and 2.
− 2. Member States shall ensure that the derogation provided for in paragraph 1 is not applicable in the case of redemption in cash or cash withdrawal of the monetary value of the electronic money where the amount redeemed exceeds EUR 100.
+ Member States may decide not to accept on their territory payments carried out by using anonymous prepaid cards.
− ### art_13
+ ### Article 13
− Article 13
+ (a) identifying the customer and verifying the customer’s identity on the basis of documents, data or information obtained from a reliable and independent source, including, where available, electronic identification means, relevant trust services as set out in Regulation (EU) No 910/2014 of the Eur…
− | (a) | identifying the customer and verifying the customer's identity on the basis of documents, data or information obtained from a reliable and independent source; |
− | --- | --- |
+ (b) identifying the beneficial owner and taking reasonable measures to verify that person's identity so that the obliged entity is satisfied that it knows who the beneficial owner is, including, as regards legal persons, trusts, companies, foundations and similar legal arrangements, taking reasonabl…
− | (b) | identifying the beneficial owner and taking reasonable measures to verify that person's identity so that the obliged entity is satisfied that it knows who the beneficial owner is, including, as regards legal persons, trusts, companies, foundations and similar legal arrangements, taking reaso…
− | --- | --- |
+ (c) assessing and, as appropriate, obtaining information on the purpose and intended nature of the business relationship;
− | (c) | assessing and, as appropriate, obtaining information on the purpose and intended nature of the business relationship; |
− | --- | --- |
+ (d) conducting ongoing monitoring of the business relationship including scrutiny of transactions undertaken throughout the course of that relationship to ensure that the transactions being conducted are consistent with the obliged entity's knowledge of the customer, the business and risk profile, i…
− | (d) | conducting ongoing monitoring of the business relationship including scrutiny of transactions undertaken throughout the course of that relationship to ensure that the transactions being conducted are consistent with the obliged entity's knowledge of the customer, the business and risk profil…
− | --- | --- |
+ (a) in the case of beneficiaries that are identified as specifically named persons or legal arrangements, taking the name of the person;
− | (a) | in the case of beneficiaries that are identified as specifically named persons or legal arrangements, taking the name of the person; |
− | --- | --- |
+ (b) in the case of beneficiaries that are designated by characteristics or by class or by other means, obtaining sufficient information concerning those beneficiaries to satisfy the credit institutions or financial institution that it will be able to establish the identity of the beneficiary at the …
− | (b) | in the case of beneficiaries that are designated by characteristics or by class or by other means, obtaining sufficient information concerning those beneficiaries to satisfy the credit institutions or financial institution that it will be able to establish the identity of the beneficiary at …
− | --- | --- |
+ ### Article 14
− ### art_14
+ 1. Member States shall require that verification of the identity of the customer and the beneficial owner take place before the establishment of a business relationship or the carrying out of the transaction. ►M1 Whenever entering into a new business relationship with a corporate or other legal enti…
− Article 14
− 
− 1. Member States shall require that verification of the identity of the customer and the beneficial owner take place before the establishment of a business relationship or the carrying out of the transaction.
+ 5. Member States shall require that obliged entities apply the customer due diligence measures not only to all new customers but also at appropriate times to existing customers on a risk-sensitive basis, or when the relevant circumstances of a customer change, or when the obliged entity has any lega…
− 5. Member States shall require that obliged entities apply the customer due diligence measures not only to all new customers but also at appropriate times to existing customers on a risk-sensitive basis, including at times when the relevant circumstances of a customer change.
+ ## *SECTION 2* / ***Simplified customer due diligence***
− ### art_15
+ ### Article 15
− Article 15
+ ### Article 16
− ### art_16
− Article 16
− 
+ ### Article 17
− ### art_17
− Article 17
− 
+ ## *SECTION 3* / ***Enhanced customer due diligence***
− ### art_18
+ ### Article 18
− Article 18
+ 1. ►M1 In the cases referred to in Articles 18a to 24, as well as in other cases of higher risk that are identified by Member States or obliged entities, Member States shall require obliged entities to apply enhanced customer due diligence measures to manage and mitigate those risks appropriately.**…
− 1. In the cases referred to in Articles 19 to 24, and when dealing with natural persons or legal entities established in the third countries identified by the Commission as high-risk third countries, as well as in other cases of higher risk that are identified by Member States or obliged entities, M…
+ 
+ 2. Member States shall require obliged entities to examine, as far as reasonably possible, the background and purpose of all transactions that fulfil at least one of the following conditions:
+ (i) they are complex transactions;
+ 
+ (ii) they are unusually large transactions;
+ 
+ (iii) they are conducted in an unusual pattern;
+ 
+ (iv) they do not have an apparent economic or lawful purpose.
+ 
+ In particular, obliged entities shall increase the degree and nature of monitoring of the business relationship, in order to determine whether those transactions or activities appear suspicious.
− 2. Member States shall require obliged entities to examine, as far as reasonably possible, the background and purpose of all complex and unusually large transactions, and all unusual patterns of transactions, which have no apparent economic or lawful purpose. In particular, obliged entities shall in…
+ ### Article 18a
+ 
+ 1. With respect to business relationships or transactions involving high-risk third countries identified pursuant to Article 9(2), Member States shall require obliged entities to apply the following enhanced customer due diligence measures:
+ 
+ (a) obtaining additional information on the customer and on the beneficial owner(s);
+ 
+ (b) obtaining additional information on the intended nature of the business relationship;
+ 
+ (c) obtaining information on the source of funds and source of wealth of the customer and of the beneficial owner(s);
+ 
+ (d) obtaining information on the reasons for the intended or performed transactions;
+ 
+ (e) obtaining the approval of senior management for establishing or continuing the business relationship;
+ 
+ (f) conducting enhanced monitoring of the business relationship by increasing the number and timing of controls applied, and selecting patterns of transactions that need further examination.
+ 
+ Member States may require obliged entities to ensure, where applicable, that the first payment be carried out through an account in the customer’s name with a credit institution subject to customer due diligence standards that are not less robust than those laid down in this Directive.
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