Article 23 › 1

Verification of the identity of the customer, the beneficial owner, and of any persons pursuant to Article 20(1), points (h) and (i), shall take place before the establishment of a business relationship or the carrying out of an occasional transaction. Such obligation shall not apply to situations of lower risk under Section 3 of this Chapter, provided that the lower risk justifies postponement of such verification. For real estate agents, the verification referred to in the first subparagraph shall be carried out after an offer is accepted by the seller or lessor, and in all cases before any funds or property are transferred.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04