53 Amendments of Olivier CHASTEL related to 2021/0239(COD)
Amendment 126 #
Proposal for a regulation
Recital 2
Recital 2
(2) The main challenge identified in respect to the application of the provisions of Directive (EU) 2015/849 laying down obligations for private sector actors, the so- called obliged entities, is the lack of direct applicability of those rules and a fragmentation of the approach along national lines. Whereas those rules have existed and evolved over three decades, they are still implemented in a manner not fully consistent with the requirements of an integrated internal market. Therefore, it is necessary that rules on matters currently covered in Directive (EU) 2015/849 which may be directly applicable by the obliged entities concerned are addressed in a new Regulation in order to achieve the desired uniformity of application and to eliminate divergences and inconsistencies of implementation practices within Member States.
Amendment 130 #
Proposal for a regulation
Recital 3 a (new)
Recital 3 a (new)
(3a) It is estimated by the United Nations Office of Drugs and Crime (UNODC) that between 2 and 5% of global GDP is laundered each year. Therefore, it is essential for Member States, apart from reinforcing their rules in order to prevent money laundering or terrorist financing, to use the money recovered from operations with the purpose to address challenges emerged from current and future crises.
Amendment 132 #
Proposal for a regulation
Recital 5
Recital 5
(5) Since the adoption of Directive (EU) 2015/849, recent developments in the Union’s criminal law framework have contributed to strengthening the prevention and fight against money laundering, its predicate offences and terrorist financing. Directive (EU) 2018/1673 of the European Parliament and of the Council25 has led to a common understanding of the money laundering crime and its predicate offences. Directive (EU) 2017/1371 of the European Parliament and of the Council26 defined financial crimes affecting the Union’s financial interest, which should also be considered predicate offences to money laundering. Directive (EU) 2017/541 of the European Parliament and of the Council27 has achieved a common understanding of the crime of terrorist financing. As those concepts are now clarified in Union criminal law, it is no longer needed for the Union’s AML/CFT rules to define money laundering, its predicate offences or terrorist financing. Instead, the Union’s AML/CFT framework should be fully coherent with the Union’s criminal law framework with the aim to improve public safety and protection of EU citizens. _________________ 25 Directive (EU) 2018/1673 of the European Parliament and of the Council of 23 October 2018 on combating money laundering by criminal law (OJ L 284, 12.11.2018, p. 22). 26 Directive (EU) 2017/1371 of the European Parliament and of the Council of 5 July 2017 on the fight against fraud to the Union's financial interests by means of criminal law (OJ L 198, 28.7.2017, p. 29). 27 Directive (EU) 2017/541 of the European Parliament and of the Council of 15 March 2017 on combating terrorism and replacing Council Framework Decision 2002/475/JHA and amending Council Decision 2005/671/JHA (OJ L 88, 31.3.2017, p. 6).
Amendment 167 #
Proposal for a regulation
Recital 24 a (new)
Recital 24 a (new)
(24a) The illegal, unprovoked and unjustified military aggression against Ukraine has been strongly condemned by the Union and has led to a severe embargo on Russian banks and oligarchs by the Member States, while also highlighting schemes of money laundering by Russian banks through EU banks services. It is important in this sense to recognize the potential that long- term maintenance of sanctions has in reducing the risk of Russian money laundering in the Union.
Amendment 168 #
Proposal for a regulation
Recital 25
Recital 25
(25) It is important that obliged entities take all measures at the level of their management to implement internal policies, controls and procedures and to implement AML/CFT requirements. While a person at management level should be identified as being responsible for implementing the obliged entity’s policies, controls and procedures, the responsibility for the compliance with AML/CFT requirements should rest ultimately with the governingmanagement body of the entity. Tasks pertaining to the day-to-day implementation of the obliged entity’s AML/CFT policies, controls and procedures should be entrusted to a compliance officer.
Amendment 176 #
Proposal for a regulation
Recital 32 a (new)
Recital 32 a (new)
(32a) Access to basic financial products and services allows refugees and people seeking temporary or international protection to participate in the economic and social life of the Union, in line with the right to protection enshrined in Article 18 of the Charter of Fundamental Rights. At the same time, financial inclusion avoids that transactions are driven underground through informal channels, thereby making the detection and reporting of suspicious transactions more difficult. As such, financial inclusion contributes significantly to the fight against money laundering and terrorist financing. This regulation provides sufficient flexibility to financial institutions to perform the identification and verification of prospective clients who are refugees or seek protection and to adopt, in line with the risk-based approach, proportionate and effective measures to manage and mitigate risks linked to these clients. To ensure such flexibility is exploited to the fullest, financial institutions should accept documents issued by Member States stating legal residence as a valid means for the purposes of customer identity verification. In order to ensure the effective implementation of anti-money laundering/countering the financing of terrorism rules, financial institutions should address the situation of refugees and persons seeking temporary or international protection within their internal policies and procedures
Amendment 178 #
Proposal for a regulation
Recital 33
Recital 33
(33) Obliged entities should not be required to apply due diligence measures on customers carrying outWhereas putting a threshold for occasional or linked transactions below a certain value, unless there is suspicion of money laundering or terrorist financing. Whereas the EUR 10 000 threshold applies to most occasional transactions, obliged entities which operate in sectors or carry out transactions that present a higher risk of money laundering and terrorist financingcreates a risk that individuals performing multiple small transactions for criminal purposes would be hardly detected, obliged entities should be required to apply customer due diligence for transactions with lower thresholds. To identify the sectors or transactions as well as the adequate thresholds for those sectors or transactions, AMLA should develop dedicated draft regulatory technical standardsmeasures on customers carrying out occasional or linked transactions regardless of the amount.
Amendment 190 #
Proposal for a regulation
Recital 49
Recital 49
(49) In order to protect the proper functioning of the Union financial system from money laundering and terrorist financing, the power to adopt acts in accordance with Article 290 of the Treaty on the Functioning of the European Union (TFEU) should be delegated to the Commission to identify third countries, whose shortcomings in their national AML/CFT regimes represent a threat to the integrity of the Union’s internal market. The changing nature of money laundering and terrorist financing threats from outside the Union, facilitated by a constant evolution of technology and of the means at the disposal of criminals, requires that quick and continuous adaptations of the legal framework as regards third countries be made in order to address efficiently existing risks and prevent new ones from arising. The Commission should take into account information from other EU bodies, such as law enforcement agencies, international organisations and standard setters in the field of AML/CFT, such as FATF public statements, mutual evaluation or detailed assessment reports or published follow-up reports, and adapt its assessments to the changes therein, where appropriate.
Amendment 197 #
Proposal for a regulation
Recital 52
Recital 52
(52) Countries that are not publicly identified as subject to calls for actions or increased monitoring by international standard setters might still pose a threat to the integrity of the Union’s financial system. To mitigate those risks, it should be possible for the Commission to take action by identifying, based on a clear set of criteria and with the support of AMLA and other EU bodies, such as law enforcement agencies, involved in the AML/CFT framework, third countries posing a specific and serious threat to the Union’s financial system, which may be due to either compliance weaknesses or significant strategic deficiencies of a persistent nature in their AML/CFT regime, and the relevant mitigating measures. Those third countries should be identified by the Commission. According to the level of risk posed to the Union’s financial system, the Commission should require the application of either all enhanced due diligence measures and country-specific countermeasures, as it is the case for high-risk third countries, or country-specific enhanced customer due diligence, such as in the case of third countries with compliance weaknesses.
Amendment 209 #
Proposal for a regulation
Recital 60 a (new)
Recital 60 a (new)
(60a) Business relationships and transactions involving high-net-worth individuals, particularly those designated by EU sanction regime or residing in high risk third countries, who present one or several factors of higher risk could seriously compromise the integrity of the Union’s financial system and cause serious vulnerabilities in the internal market. Obliged entities should therefore apply enhanced customer due diligence measures as laid down in this Regulation with respect to those individuals
Amendment 229 #
Proposal for a regulation
Recital 72
Recital 72
(72) There is a need to ensure a level playing field among the different types of legal forms and to avoid the misuse of trusts and legal arrangements, which are often layered in complex structures to further obscure beneficial ownership. Trustees of any express trust administered in a Member State should thus be responsible for obtaining and holding adequate, accurate and current beneficial ownership information regarding the trust, and for disclosing their status and providing this information to obliged entities carrying out costumer due diligence. Any other beneficial owner of the trust should assist the trustee in obtaining such information. AMLA shall investigate the possibility of the creation of a central European Beneficial Owners Register with uniform standards.
Amendment 231 #
Proposal for a regulation
Recital 77
Recital 77
(77) Suspicious transactions, including attempted transactions, and other information relevant to money laundering, its predicate offences and terrorist financing, should be reported to the FIU, which should serve as a single central national unit for receiving and, analysing reported suspicions and for disseminating to the competent authorities the results of its analyses. FIU's shall strengthen cooperation with competent authorities to ensure that meaningful information is exchanged in a timely and constructive manner. All suspicious transactions, including attempted transactions, should be reported, regardless of the amount of the transaction. Reported information may also include threshold-based information. The disclosure of information to the FIU in good faith by an obliged entity or by an employee or director of such an entity should not constitute a breach of any restriction on disclosure of information and should not involve the obliged entity or its directors or employees in liability of any kind.
Amendment 247 #
Proposal for a regulation
Recital 94
Recital 94
(94) The use of large cash payments is highly vulnerable to money laundering and terrorist financing; this has not been sufficiently mitigated by the requirement for traders in goods to be subject to anti- money laundering rules when making or receiving cash payments of EUR 10 000 or more. At the same time, differences in approaches among Member States have undermined the level playing field within the internal market to the detriment of businesses located in Member States with stricter controls. It is therefore necessary to introduce a Union-wide limit to large cash payments of EUR 10 5000. Member States should be able to adopt lower thresholds and further stricter provisions.
Amendment 302 #
Proposal for a regulation
Article 2 – paragraph 1 – point 25 – point d – point i a (new)
Article 2 – paragraph 1 – point 25 – point d – point i a (new)
(ia) other functions falling under the definition of politically exposed person, according to the country of origin;
Amendment 317 #
Proposal for a regulation
Article 2 – paragraph 1 – point 36 a (new)
Article 2 – paragraph 1 – point 36 a (new)
(36a) 'AML compliance entity' means an external entity or digital platform, acting in full respect of GDPR, which contributes to the effective compliance with the AML rules of the obliged entities subject to the obligations set out in this Regulation.
Amendment 343 #
Proposal for a regulation
Article 3 – paragraph 1 – point 3 – point e
Article 3 – paragraph 1 – point 3 – point e
(e) persons trading in luxury goods and precious metals and stones;
Amendment 360 #
Proposal for a regulation
Article 3 – paragraph 1 – point 3 – point k
Article 3 – paragraph 1 – point 3 – point k
(k) creditors for mortgage and consumer credits, other than credit institutions defined in Article 2(5) and financial institutions defined in Article 2(6), and credit intermediaries for mortgage and consumer credits;
Amendment 371 #
Amendment 373 #
Proposal for a regulation
Article 4 – paragraph 1
Article 4 – paragraph 1
1. With the exception of casinos, Member States may decide to exempt, in full or in part, providers of gambling services from the requirements set out in this Regulation on the basis of the proven low risk posed by the nature and, where appropriate, the scale of operations of such services, with the consent of the AML Authority.
Amendment 391 #
Proposal for a regulation
Article 6 a (new)
Article 6 a (new)
Article 6a Minimum requirements regarding citizenship and residence by investment schemes A Member State whose national law grants citizenship or residence rights in exchange for any kind of investment, such as capital transfers, purchase or renting of property, investment in government bonds, investment in corporate entities, donation or endowment of an activity contributing to the public good and contributions to the state budget, shall ensure that public authorities that process applications for such citizenship and residence rights carry out at least the following measures: (a) require that transactions are carried out by means of a business relationship with an obliged entity established in that Member State; (b) request information from involved obliged entities about customer due diligence measures carried out; (c) obtain and record detailed information, substantiated by verified documents, on the identity of the applicant, on any of the applicant’s business interests and employment activities in the previous 10 years and on the applicant’s source of funds and source of wealth; (d) require clearance from law enforcement authorities, substantiated by evidence of the absence of any criminal activities on the part of the applicant; (e) ensure that the applicant shall not have connections with suspicious activities, including close business relations with persons having a criminal record related to money laundering, terrorist financing or predicate offences, or with individuals designated by EU sanction regimes; (f) any applicant shall be subject to minimum physical presence requirements. The applicant's presence shall be regularly monitored by relevant authorities and non-compliance with physical presence requirements result in the non-granting or withdrawal of citizenship or residence rights.
Amendment 459 #
Proposal for a regulation
Article 15 – paragraph 1 – point b
Article 15 – paragraph 1 – point b
(b) when involved in or carrying out an occasional transaction that amounts to EUR 10 000 or more,regardless orf the equivalent in national currencyamount, whether that transaction is carried out in a single operation or through linked transactions, or a lower threshold laid down pursuant to paragraph 5;
Amendment 462 #
Proposal for a regulation
Article 15 – paragraph 1 a (new)
Article 15 – paragraph 1 a (new)
1a. By way of derogation from points (a), (b) and (c) of paragraph 1 and Article 19, and based on an appropriate risk assessment which demonstrates a low risk, obliged entities are allowed not to apply certain customer due diligence measures with respect to electronic money, where all of the following risk- mitigating conditions are met: (a) the payment instrument is not reloadable, or has a maximum monthly payment transactions limit of EUR 150 which can be used only in that Member State; (b) the maximum amount stored electronically does not exceed EUR 150; (c) the payment instrument is used exclusively to purchase goods or services; (d) the payment instrument cannot be funded with anonymous electronic money; (e) the issuer carries out sufficient monitoring of the transactions or business relationship to enable the detection of unusual or suspicious transactions.
Amendment 463 #
Proposal for a regulation
Article 15 – paragraph 1 b (new)
Article 15 – paragraph 1 b (new)
1b. The derogation provided for in paragraph 1a is not applicable in the case of redemption in cash or cash withdrawal of the monetary value of the electronic money, or in the case of remote payment transactions.
Amendment 466 #
Proposal for a regulation
Article 15 – paragraph 2
Article 15 – paragraph 2
2. In addition to the circumstances referred to in paragraph 1, credit and financial institutions and crypto-asset service providers shall apply customer due diligence when either initiating or executing an occasional transaction that constitutes a transfer of funds as defined in Article 3, point (9) of Regulation [please insert reference – proposal for a recast of Regulation (EU) 2015/847 - COM/2021/422 final], or a transfer of crypto-assets as defined in Article 3, point (10) of that Regulation, exceeding EUR 1 000 or the equivalent in national currency.
Amendment 498 #
Proposal for a regulation
Article 17 – paragraph 1 – introductory part
Article 17 – paragraph 1 – introductory part
1. Where an obliged entity is unable to comply with the customer due diligence measures laid down in Article 16(1), it shall refrain fromnot carrying out a transaction or establishing a business relationship, and shall terminate the business relationship and consider filingfile a suspicious transaction report to the FIU in relation to the customer in accordance with Article 50.
Amendment 522 #
Proposal for a regulation
Article 18 – paragraph 4 – point a
Article 18 – paragraph 4 – point a
(a) the submission of the identity document, passport or equivalent and the acquisition of information from reliable and independent sources, which can also be done by electronic means, whether accessed directly or provided by the customer;
Amendment 559 #
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 1
Article 21 – paragraph 2 – subparagraph 1
The frequency of updating customer information pursuant to the first sub- paragraph shall be based on the risk posed by the business relationship. The frequency of updating of customer information shall pursue a risk-based approach, particularly taking into account changes of relevant circumstances and shall in any case not exceed five years.
Amendment 571 #
Proposal for a regulation
Article 22 – paragraph 2 – point c a (new)
Article 22 – paragraph 2 – point c a (new)
(ca) the residual risk, taking into account a proper risk assessment, the risk mitigating measures put in place by the obliged entities, also considering innovation and technical developments to detect and prevent suspicious transactions.
Amendment 596 #
Proposal for a regulation
Article 24 – paragraph 3
Article 24 – paragraph 3
3. The Commission, when drawing up the delegated acts referred to in paragraph 2 shall take into account information on jurisdictions under increased monitoring by EU bodies, such as law enforcement agencies, international organisations and standard setters with competence in the field of preventing money laundering and combating terrorist financing, as well as relevant evaluations, assessments, reports or public statements drawn up by them.
Amendment 613 #
Proposal for a regulation
Article 25 – paragraph 2 – point c a (new)
Article 25 – paragraph 2 – point c a (new)
(ca) the recurrence of the involvement of the third country into money laundering and terrorist financing schemes in criminal analysis and investigations of Member States supported by Europol;
Amendment 624 #
Proposal for a regulation
Article 25 – paragraph 4
Article 25 – paragraph 4
4. The Commission, when drawing up the delegated acts referred to in paragraph 1, shall take into account in particular relevant evaluations, assessments or reports drawn up by EU bodies, such as law enforcement agencies, international organisations and standard setters with competence in the field of preventing money laundering and combating terrorist financing.
Amendment 635 #
Proposal for a regulation
Article 26 – paragraph 3
Article 26 – paragraph 3
3. In issuing and reviewing the guidelines referred to in paragraph 1, AMLA shall take into account evaluations, assessments or reports of EU bodies, such as law enforcement agencies, international organisations and standard setters with competence in the field of preventing money laundering and combating terrorist financing.
Amendment 690 #
Proposal for a regulation
Article 32 – paragraph 2 – point b
Article 32 – paragraph 2 – point b
(b) take adequate measures to establish the source of wealth and source of funds that are involved in business relationships or transactions, including occasional ones, with politically exposed persons;
Amendment 711 #
Proposal for a regulation
Article 38 – paragraph 4 a (new)
Article 38 – paragraph 4 a (new)
4a. Reliance on other obliged entities may also include the re-use of relevant customer due diligence information and documentation obtained and processed by that entity.
Amendment 715 #
Proposal for a regulation
Article 40 – paragraph 1 – subparagraph 1
Article 40 – paragraph 1 – subparagraph 1
The obliged entity shall remain fully liable for any action of agents or external service providers, including AML compliance entities, to which activities are outsourced.
Amendment 740 #
Proposal for a regulation
Article 40 – paragraph 3
Article 40 – paragraph 3
3. Where an obliged entity outsources a task pursuant to paragraph 1, it shall ensure that the agent or external service provider applies the measures and procedures adopted by the obliged entity. The conditions for the performance of such tasks shall be clearly specified and laid down in a written agreement between the obliged entity and the outsourced entity. The obliged entity shall perform regular controls to ascertain the effective implementation of such measures and procedures by the outsourced entity. The frequency of such controls shall be determined on the basis of the critical nature of the tasks outsourced.
Amendment 742 #
Proposal for a regulation
Article 40 – paragraph 4 a (new)
Article 40 – paragraph 4 a (new)
4a. Outsourced entities shall be able to sub-outsource activities, as long as the outsourced entities: (a) have laid such sub-outsourcing out in their written agreement with the obliged entity; and (b) are able to report on the effective implementation of measures by the sub- outsourced entities to the obliged entity. The obliged entity remains fully liable for any actions of the sub-outsourced entity, and the tasks undertaken by the sub- outsourced entity shall also not be undertaken in such way as to impair materially the quality of the obliged entity’s measures and procedures to comply with the requirements of this Regulation and of Regulation [proposal for a recast of Regulation (EU) 2015/847 - COM/2021/422 final].
Amendment 750 #
Proposal for a regulation
Article 42 – paragraph 1 – subparagraph 1
Article 42 – paragraph 1 – subparagraph 1
For the purpose of this Article, ‘control through an ownership interest’ shall mean an ownership of 25% plus one of the shares or voting rights or other ownership interest in the corporate entity, including through bearer shareholdings, on every level ofthe first level of the ownership chain, respectively 50% plus one of the shares or voting rights or other ownership interest in the corporate entity, including through bearer shareholdings, on the subsequent levels the ownership chain.
Amendment 779 #
Proposal for a regulation
Article 42 – paragraph 2 a (new)
Article 42 – paragraph 2 a (new)
Amendment 816 #
Proposal for a regulation
Article 45 – paragraph 2
Article 45 – paragraph 2
2. Where, after having exhausted all possible means of identification pursuant to Articles 42 and 43, no person is identified as beneficial owner, or where there is any doubt that the person(s) identified is the beneficial owner(s), the corporate or other legal entities shall keep records of the actions taken in order to identify their beneficial owner(s) and file a suspicious transaction report in accordance with Article 17.
Amendment 821 #
Proposal for a regulation
Article 45 – paragraph 3 – point a
Article 45 – paragraph 3 – point a
(a) a statement, accompanied by a justification and supporting documents, that there is no beneficial owner or that the beneficial owner(s) could not be identified and verified;
Amendment 840 #
Proposal for a regulation
Article 49 – paragraph 1
Article 49 – paragraph 1
Member States shall lay down the rules on sanctions applicable to infringements of the provisions of this Chapter in accordance with Article 40 of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final] and shall take all measures necessary to ensure that they are implemented. The sanctions provided for must be effective, proportionate and dissuasive.
Amendment 845 #
Proposal for a regulation
Article 50 – paragraph 1 – introductory part
Article 50 – paragraph 1 – introductory part
1. Obliged entities shall report via the FIU.net one-stop-shop to the FIU all suspicious transactions, including attempted transactions.
Amendment 846 #
Proposal for a regulation
Article 50 – paragraph 1 – introductory part
Article 50 – paragraph 1 – introductory part
1. Obliged entities shall report to the FIU all suspicious transactions, including multi-country and attempted transactions.
Amendment 847 #
Proposal for a regulation
Article 50 – paragraph 1 – subparagraph 1 – point a
Article 50 – paragraph 1 – subparagraph 1 – point a
(a) reporting to the FIU via the FIU.net one-stop-shop, on their own initiative, where the obliged entity knows, suspects or has reasonable grounds to suspect that funds, regardless of the amount involved, are the proceeds of criminal activity or are related to terrorist financing, and by responding to requests by the FIU submitted via the FIU.net one- stop-shop for additional information in such cases;
Amendment 852 #
Proposal for a regulation
Article 50 – paragraph 1 – subparagraph 1 – point b
Article 50 – paragraph 1 – subparagraph 1 – point b
(b) providing the FIU directly via the FIU.net one-stop-shop, at its request, with all necessary information.
Amendment 855 #
Proposal for a regulation
Article 50 – paragraph 1 – subparagraph 2
Article 50 – paragraph 1 – subparagraph 2
For the purposes of points (a) and (b), obliged entities shall reply to a request for information by the FIU within 5 days via the FIU.net one-stop-shop. In justified and urgent cases, FIUs shall be able to shorten such a deadline to 24 hours.
Amendment 866 #
Proposal for a regulation
Article 50 – paragraph 5
Article 50 – paragraph 5
5. AMLA shall issue and periodically update guidance on indicators of unusual or suspicious activity or behaviours with the assistance of other EU bodies involved in the AML/CFT framework.
Amendment 884 #
Proposal for a regulation
Article 54 a (new)
Article 54 a (new)
Article 54a Use of Artificial Intelligence (AI) For the purposes of AML, obliged entities shall be permitted to rely on technologies that include machine-learning, artificial intelligence or similar automated individual decision-making processes, including profiling pursuant to Article 22.2.(b) of Regulation (EU) 2016/679 in order to meet directly or indirectly the requirements of this Regulation, Regulation 2015/847, and any Regulatory Technical Standards, guidelines or other common instruments (that are directly or indirectly related to the prevention and fight against money laundering and financing terrorism) set up by AMLA related to the abovementioned regulations. Obliged entities shall inform the data subjects, for example in their privacy statements, that automated decision making including profiling pursuant to Article 22.2. b of Regulation (EU) 2016/679 is used. Such information should include the significance and the possible consequences for the data subject of such use. AML-A, in cooperation with the European Data Protection Board shall develop Regulatory Technical Standards, determining the minimum information to be provided. The logics behind such automated decision making and profiling are kept by the obliged entities and can be requested by the competent authorities. Such logics should be kept confidential by such authorities.
Amendment 885 #
Proposal for a regulation
Article 55 – paragraph 1
Article 55 – paragraph 1
1. To the extent that it is strictly necessary for the purposes of preventing money laundering and terrorist financing, obliged entities may processand AML compliance entities may process personal data, including special categories of personal data referred to in Article 9(1) of Regulation (EU) 2016/679 and personal data relating to criminal convictions and offences referred to in Article 10 of that Regulation subject to the safeguards provided for in paragraphs 2 and 3. On the basis of this Regulation, only to the extent that it is necessary and proportionate for the purposes of the prevention of money laundering and terrorist financing, obliged entities may share this data with other obliged entities.
Amendment 900 #
Proposal for a regulation
Article 55 a (new)
Article 55 a (new)
Article 55a Information exchange (1) Obliged persons, competent authorities [within the meaning of Art. 2(31) of the Draft Regulation] and other public authorities of the EU and EU Member States, insofar as they act for the purpose of combating money laundering or terrorist financing, may provide each other, directly or through public-private partnerships (PPPs), insofar as they pursue the purpose of combating money laundering or terrorist financing, with information containing anomalies or unusual features indicating money laundering, one of its predicate offences or terrorist financing. The exchange of information may only take place for the purpose of combating money laundering, one of its predicate offenses or the financing of terrorism. (2) Within the framework of the exchange of information pursuant to paragraph 1, the persons referred to in paragraph 1 may also process personal data within the meaning of Art. 4 No. 1 of the General Data Protection Regulation [as defined in Art. 4 No. 2 of the General Data Protection Regulation]. Art. 14 (1) to (4) of the General Data Protection Regulation shall not apply; Art. 15, 16 and 18 of the General Data Protection Regulation shall apply subject to the consent of the competent authorities [as defined in Art. 2 (31) of the Draft Regulation]. The personal data shall be deleted after the expiration of 5 years after receipt of the data, unless there is a legal obligation or justification for the continued retention of the data. (3) Information pursuant to paragraph 1, which is related to specific facts, may only be disclosed by obligated parties, irrespective of the submission of a notification pursuant to Art. 50 et seq. Draft Regulation may only be disclosed by obligated parties to other obligated parties if the information is not disclosed to 1. the contracting party of the obligated party submitting the report, 2. the principal of a transaction related to the facts of the case, 3. the beneficial owner of the persons referred to in points 1 and 2, 4. a person who has been appointed as a representative or messenger by one of the persons mentioned in numbers 1 to 3, 5. the legal counsel mandated by any of the persons referred to in numbers 1 to 4, and 6. other third parties not mentioned in paragraph 1. (4) Information referred to in paragraph 1, for which an obliged person has made a report pursuant to Art. 50 et seq. of the Draft Regulation or on the basis of which such a report is about to be made, may be shared pursuant to paragraph 1 only if the competent authorities [within the meaning of Art. 2 par. 31 of the Draft Regulation] have previously given their consent to an exchange of information to all or selected persons referred to in paragraph 1. An information exchange pursuant to Art. 54 (2)-(6) of the Draft Regulation remains unaffected by this.
Amendment 926 #
Proposal for a regulation
Article 59 – paragraph 1
Article 59 – paragraph 1
1. Persons trading in goods or providing services may accept or make a payment in cash only up to an amount of EUR 10 5000 or equivalent amount in national or foreign currency, whether the transaction is carried out in a single operation or in several operations which appear to be linked.
Amendment 936 #
Proposal for a regulation
Article 59 – paragraph 4 – point b
Article 59 – paragraph 4 – point b
(b) payments or deposits made at the premises of credit institutions. In such cases, the credit institution shall report the payment or deposit above the limit to the FIU, in particular in case of suspicious activities and transactions.