4. 3AMLD — DIRECTIVE 2005/60/EC OF THE EUROPEAN PARLIAMENT AND OF THE…

4.

3AMLD

DIRECTIVE 2005/60/EC OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing (Text with EEA relevance) · European Union

In respect of transactions or business relationships with politically exposed persons residing in another Member State or in a third country, Member States shall require those institutions and persons covered by this Directive to: have appropriate risk-based procedures to determine whether the customer is a politically exposed person; have senior management approval for establishing business relationships with such customers; take adequate measures to establish the source of wealth and source of funds that are involved in the business relationship or transaction; conduct enhanced ongoing monitoring of the business relationship.

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Source: EUR-Lex (Cellar) · retrieved 2026-09-25 · Text as adopted (Official Journal); later amendments are not incorporated in this text.