Anti-Money Laundering Regulation
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Table of Contents
Chapter I – General provisions
Chapter II – Internal policies, procedures and controls of obliged entities
Chapter III – Customer due diligence
Chapter IV – Beneficial ownership transparency
Chapter V – Reporting obligations
Chapter VI – Information sharing
Chapter VII – Data protection and record retention
Chapter VIII – Measures to mitigate risks deriving from anonymous instruments
Chapter IX – Final provisions
Recitals (175)
Annexes
Chapter III – Customer due diligence
Article 42
Specific provisions regarding politically exposed persons
1. In addition to the customer due diligence measures laid down in Article 20, obliged entities shall apply the following measures with respect to occasional transactions or business relationships with politically exposed persons:
(a) obtain senior management approval for carrying out occasional transactions or for establishing or continuing business relationships with politically exposed persons;
(b) take adequate measures to establish the source of wealth and source of funds that are involved in business relationships or occasional transactions with politically exposed persons;
(c) conduct enhanced, ongoing monitoring of those business relationships.
2. By 10 July 2027, AMLA shall issue guidelines on the following matters:
(a) the criteria for the identification of persons known to be close associates;
(b) the level of risk associated with a particular category of politically exposed person, family member or person known to be a close associate, including guidance on how such risks are to be assessed where the person is no longer entrusted with a prominent public function for the purposes of Article 45.