Recital 147

(147) The exchange of information among obliged entities and, where applicable, competent authorities, might increase the possibilities for detecting illicit financial flows concerning money laundering, the financing of terrorism and proceeds of crime. For that reason, obliged entities and competent authorities should be able to exchange information in the framework of an information sharing partnership where they deem such sharing to be necessary for compliance with their AML/CFT obligations and tasks. Information sharing should be subject to robust safeguards relating to confidentiality, data protection, use of information and criminal procedure. Obliged entities should not rely solely on information received through the exchange of information to draw conclusions on the money laundering and terrorist financing risk of the customer or transaction or to take decisions regarding the establishment or termination of a business relationship or the carrying out of a transaction. As recognised in Directive 2014/92/EU, the smooth functioning of the internal market and the development of a modern, socially inclusive economy increasingly depends on the universal provision of payment services. Therefore, access to basic financial services should not be denied on the basis of information exchanged among obliged entities or between obliged entities and competent authorities or AMLA.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.