Recital 20

(20) Motor vehicles, watercraft and aircraft in the higher market segments are vulnerable to risks of misuse for money laundering and terrorist financing given their high value and transportability. Therefore, persons trading in such goods should be subject to AML/CFT requirements. The transportable nature of those goods is particularly attractive for the purposes of money laundering and terrorist financing given the ease with which such goods can be moved across or outside Union borders, and the fact that access to information on such goods where registered in third countries might not be easily accessible to competent authorities. To mitigate risks that Union high-value goods may be misused for criminal purposes and to ensure visibility on the ownership of such goods, it is necessary to require persons trading in high-value goods to report transactions concerning the sale of motor vehicles, watercraft and aircraft. Credit institutions and financial institutions provide services that are essential for the conclusion of the sale or transfer of ownership of such goods, and should also be required to report those transactions to the FIU. While goods intended solely for the pursuit of commercial activities should not be subject to such disclosure, sales for private, non-commercial use should not be limited to instances where the customer is a natural person, but should also relate to sales to legal entities and arrangements, in particular where they are set up to administer the wealth of their beneficial owner.

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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.