Activities of Karolin BRAUNSBERGER-REINHOLD related to 2021/0239(COD)
Shadow reports (1)
REPORT on the proposal for a regulation of the European Parliament and of the Council on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing
Amendments (82)
Amendment 137 #
Proposal for a regulation
Recital 9
Recital 9
(9) Independent legal professionals should be subject to this Regulation when participating in financial or corporate transactions, including when providing tax advice, where there is the risk of the services provided by those legal professionals being misused for the purpose of laundering the proceeds of criminal activity or for the purpose of terrorist financing. There should, however, be exemptions from any obligation to report information obtained before, during or after judicial proceedings, or in the course of ascertaining the legal position of a client, which should be covered by the legal privilegeprofessional confidentiality obligations. Therefore, legal and tax advice should remain subject to the obligation of professional secrecy, except where the legal professional is taking part in money laundering or terrorist financing, the legal or tax advice is provided for the purposes of money laundering or terrorist financing, or where the legal professional knows that the client is seeking legal or tax advice for the purposes of money laundering or terrorist financing.
Amendment 146 #
Proposal for a regulation
Recital 14
Recital 14
(14) Directive (EU) 2015/849 set out to mitigate the money laundering and terrorist financing risks posed by large cash payments by including persons trading in goods among obliged entities when they make or receive payments in cash above EUR 10 000, whilst allowing Member States to introduce stricter measures. Such approach has shown to be ineffective in light of the poor understanding and application of AML/CFT requirements, lack of supervision and limited number of suspicious transactions reported to the FIU. In order to adequately mitigate risks deriving from the misuse of large cash sums, a Union-wide limit to largeIn order to counter money laundering risks in the goods and services sector, traders in goods should be subject to AML/CFT obligations for cash transactions aboveof EUR 10 000 should be laid down. As a consequence, persons trading in goods should no longer be subject to AML/CFT obligationsor more.
Amendment 154 #
Proposal for a regulation
Recital 15
Recital 15
(15) Some categories of traders in goods are particularly exposed to money laundering and terrorist financing risks due to the high value that the small, transportable goods they deal with contain. For this reason, persons dealing in precious metals and precious stones should be subject to AML/CFT requirements for all cash or non-cash transactions carried out by them.
Amendment 183 #
Proposal for a regulation
Recital 34 a (new)
Recital 34 a (new)
Amendment 238 #
Proposal for a regulation
Recital 94
Recital 94
Amendment 261 #
Proposal for a regulation
Article 2 – paragraph 1 – point 6 – point a
Article 2 – paragraph 1 – point 6 – point a
(a) an undertaking other than a credit institution or an investment firm, which carries out one or more of the activities listed in points (2) to (12), (14) and (15) of Annex I to Directive 2013/36/EU of the European Parliament and of the Council43, including the activities of currency exchange offices (bureaux de change), or the principal activity of which is to acquire holdings, including a financial holding company and a mixed financial holding company; , but excluding the activities listed in points (7) and (8) of Annex I to Directive (EU) 2015/2366; _________________ 43 Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (OJ L 176, 27.6.2013, p. 338).
Amendment 264 #
Proposal for a regulation
Article 2 – paragraph 1 – point 6 – point b
Article 2 – paragraph 1 – point 6 – point b
(b) an insurance undertaking as defined in Article 13, point (1) of Directive 2009/138/EC of the European Parliament and of the Council44, insofar as it carries out life or other investment-related life assurance activities covered by that Directive, including insurance holding companies and mixed-activity insurance holding companies, where life assurance activities are carried out, as defined, respectively, in Article 212(1), points (f) and (g) of Directive 2009/138/EC; _________________ 44 Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (OJ L 335, 17.12.2009, p. 1).
Amendment 265 #
Proposal for a regulation
Article 2 – paragraph 1 – point 6 – point e a (new)
Article 2 – paragraph 1 – point 6 – point e a (new)
Amendment 269 #
Proposal for a regulation
Article 2 – paragraph 1 – point 8
Article 2 – paragraph 1 – point 8
(8) ‘gambling services’ means a service which involves wagering a stake with monetary value, also in the form of chargeable communications, in games of chance, including those with an element of skill such as lotteries, casino games, poker games and betting transactions that are provided at a physical location, or by any means at a distance, by electronic means or any other technology for facilitating communication, and at the individual request of a recipient of services;
Amendment 270 #
Proposal for a regulation
Article 2 – paragraph 1 – point 8 a (new)
Article 2 – paragraph 1 – point 8 a (new)
(8a) ‘State gambling operators’ means public authorities and undertakings that are majority public-owned and subject to direct supervision and oversight by the State;
Amendment 326 #
Proposal for a regulation
Article 3 – paragraph 1 – point 3 – point a
Article 3 – paragraph 1 – point 3 – point a
(a) auditors, external accountants and tax advisors, and any other natural or legal person that undertakes to provide, directly or by means of other persons to which that other person is related, material aid, assistance or advice on tax matters as principal business or professional activity;, with the exception of mutual advice and assistance for domestic workers, with regard to tax matters, organised in the form of a self-help association.
Amendment 341 #
Proposal for a regulation
Article 3 – paragraph 1 – point 3 – point d a (new)
Article 3 – paragraph 1 – point 3 – point d a (new)
(da) property developers;
Amendment 358 #
Proposal for a regulation
Article 3 – paragraph 1 – point 3 – point j a (new)
Article 3 – paragraph 1 – point 3 – point j a (new)
(ja) other traders in goods in so far as cash payments of EUR 10 000 or more are made or received, regardless of whether the transaction is carried out in a single operation or in several operations which appear to be linked;
Amendment 359 #
Proposal for a regulation
Article 3 – paragraph 1 – point 3 – point j b (new)
Article 3 – paragraph 1 – point 3 – point j b (new)
(jb) online platforms within the meaning of Regulation [Proposal for a Regulation on a Single Market for Digital Services (Digital Services Act) and amending Directive2000/31/EC] which make it possible for consumers and traders to conclude distance contracts for physical goods in so far as payments of EUR 10 000 or more are made or received, regardless of whether the transaction is carried out in a single operation or in several operations which appear to be linked;
Amendment 376 #
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, State 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.
Amendment 379 #
Proposal for a regulation
Article 5 – paragraph 1 a (new)
Article 5 – paragraph 1 a (new)
1a. Member States and third countries shall require all payment service providers within the meaning of Directive (EU) 2015/2366 to ensure that they do not carry out transactions for gambling service providers which do not possess the licence required in the Member State concerned. Member States and third countries shall provide obliged entities with white or black lists for that purpose.
Amendment 425 #
Proposal for a regulation
Article 9 – paragraph 1
Article 9 – paragraph 1
(1) Obliged entities shall appoint one executive member of their board of directors or, if there is no board, of its equivalent governing body who shall be responsible for the implementation and monitoring of measures to ensure compliance with this Regulation (‘compliance manager’). Where the entity has no governing body, the function should be performed by a member of its senior management.
Amendment 429 #
Proposal for a regulation
Article 9 – paragraph 2
Article 9 – paragraph 2
(2) The compliance manager shall be responsible for monitoring implementingation of the obliged entity’s policies, controls and procedures and for receiving information on significant or material weaknesses in such policies, controls and procedures. The compliance manager shall regularly report on those matters to the board of director or equivalent governing body. For parent undertakings, that person shall also be responsible for overseeing group-wide policies, controls and procedures.
Amendment 433 #
Proposal for a regulation
Article 9 – paragraph 3 – introductory part
Article 9 – paragraph 3 – introductory part
(3) Obliged entities shall have a compliance officer, to be appointed by the board of directors or governing bodymanagement at the level within the entity that is responsible for anti-money- laundering and countering the financing of terrorism, taking into account the size of the entity, the nature and characteristics of the activity and the complexity and risk of the services and/or activities carried out by the entity concerned, who shall be in charge of the day-to-day operation of the obliged entity’s anti- money laundering and countering the financing of terrorism (AML/CFT) policies. That person shall also be responsible for reporting suspicious transactions to the Financial Intelligence Unit (FIU) in accordance with Article 50(6).
Amendment 442 #
Proposal for a regulation
Article 11 – paragraph 2
Article 11 – paragraph 2
(2) Employees entrusted with tasks related to the obliged entity’s compliance with this Regulation shall inform the compliance officer of any close private or professional relationship established with the obliged entity’s customers or prospective customers and shall be prevented from undertaking any tasks related to the obliged entity’s compliance in relation to those customers.
Amendment 453 #
Proposal for a regulation
Article 13 – paragraph 2 a (new)
Article 13 – paragraph 2 a (new)
2a. Entities within the same group shall be entitled to use the information received as up-to-date information, provided that: (a) the information or documents are provided by another entity within the same group; (b) the receiving entity within the same group and the providing entity within the same group are not aware that the information is no longer up to date, and the information can be regarded as up to date (risk-based approach) for the intra- group business relationship.
Amendment 467 #
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 470 #
Amendment 479 #
Proposal for a regulation
Article 15 a (new)
Article 15 a (new)
Amendment 481 #
Proposal for a regulation
Article 16 – paragraph 1 – point b
Article 16 – paragraph 1 – point b
(b) in cases where an obliged entity's risk assessment establishes an increased risk, identify the beneficial owner(s) pursuant to Articles 42 and 43 and verify their identity so that the obliged entity is satisfied that it knows who the beneficial owner is and that it understands the ownership and control structure of the customer;
Amendment 496 #
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 from carrying out a transaction or establishing a business relationship, and shall terminate the business relationship and consider filing a suspicious transaction report to the FIU in relation to the customer in accordance with Article 50.
Amendment 502 #
Proposal for a regulation
Article 18 – paragraph 1 – point a – point iii
Article 18 – paragraph 1 – point a – point iii
(iii) nationality or nationalities, or statelessness and refugee or subsidiary protection status where applicable, and the national identification number, where applicable;
Amendment 504 #
Proposal for a regulation
Article 18 – paragraph 1 – point a – point iv
Article 18 – paragraph 1 – point a – point iv
(iv) the usual place of residence or, if there is no fixed residential address with legitimate residence in the Union, the postal address at which the natural person can be reached and, where possible, the occupation, profession, or employment status and the tax identification number;
Amendment 507 #
Proposal for a regulation
Article 18 – paragraph 1 – point b – point iii
Article 18 – paragraph 1 – point b – point iii
(iii) the names of the legal representatives as well as, where available, the registration number, the tax identification number and the Legal Entity Identifier. Obliged entities shall also verify that the legal entity has activities on the basis of accounting documents for the latest financial year or other relevant information;.
Amendment 510 #
Proposal for a regulation
Article 18 – paragraph 2 – introductory part
Article 18 – paragraph 2 – introductory part
(2) For the purposes of identifying the beneficial owner of a legal entity, obliged entities shall collect the following information referred to in Article 44(1), point (a), and the information referred to in paragraph 1, point (b), of this Articleon a risk basis: first name and surname and, if necessary in the light of the risks associated with the transaction or business relationship and the beneficial owner, further information. The place and date of birth and the usual place of residence of the beneficial owner can be obtained regardless of the risks involved.
Amendment 516 #
Proposal for a regulation
Article 18 – paragraph 2 – subparagraph 1
Article 18 – paragraph 2 – subparagraph 1
Where, after having exhausted all possible means of identification pursuant to the first subparagraph, no natural person is identified as beneficial owner, or where there is anyare doubts that the person(s) identified is/are the beneficial owner(s), obliged entities shall identify the natural person(s) holding the position(s) of senior managing official(s) in the corporate or other legal entity and shall verify their identity. Obliged entities shall keep records of the actions taken as well as of the difficulties encountered during the identification process, which led to resorting to the identification of a senior managing official.
Amendment 517 #
Proposal for a regulation
Article 18 – paragraph 4 – introductory part
Article 18 – paragraph 4 – introductory part
(4) Obliged entities shall obtain the information, documents and data necessary for the verification of the customer and beneficial owner identity through either of the following:
Amendment 525 #
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 andor the acquisition of information from reliable and independent sources, whether accessed directly or provided by the customer;
Amendment 527 #
Proposal for a regulation
Article 18 – paragraph 4 – point b
Article 18 – paragraph 4 – point b
(b) the use of electronic identification means and relevant trust services as set out in Regulation (EU) 910/2014, or other secure remote or electronic identification procedures regulated, recognised, approved or accepted by competent national authorities, ensuring at least a level of security designated 'high'. A decision taken by a competent national authority of a Member State should have equal effect in other Member States.
Amendment 531 #
For the purposes of verifying the information on the beneficial owner(s), obliged entities shall alsotake all necessary and appropriate measures, including consulting the central registers referred to in Article 10 of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final] as well as additional information. O. They shall consult additional information where the information in central registers does not match the information available to them under Article 18, where they have doubts as to the accuracy of the information or where there is a higher risk of money laundering or terrorist financing. In that instance, obliged entities shall determine the extent of the additional information to be consulted, having regard to the risks posed by the transaction or the business relationship and the beneficial owner. Obliged entities shall report to the entity responsible for the central registers any discrepancy between the beneficial ownership information available in the central registers and the beneficial ownership information available to them under Article 18 of the Regulation. Obliged entities shall not be required to report discrepancies under this paragraph where this involves information obtained in the instances referred to in Article 51(2). Other rules on safeguarding confidentiality, in particular on banking secrecy, shall be without prejudice to reporting obligations. Article 53 shall apply mutatis mutandis.
Amendment 537 #
Proposal for a regulation
Article 18 – paragraph 4 a (new)
Article 18 – paragraph 4 a (new)
4a. By way of derogation from paragraphs 1 to 4, an obliged entity may opt not to identify and verify a customer or beneficial owner where the obliged entity has already verified and identified the person concerned on a previous occasion, in accordance with the requirements set out in paragraphs 1 to 4, and there is no reasonable doubt that the information received on that previous occasion is no longer accurate.
Amendment 544 #
Proposal for a regulation
Article 19 a (new)
Article 19 a (new)
Amendment 545 #
Proposal for a regulation
Article 20 – title
Article 20 – title
Identification of the purpose and intended nature of a business relationship or occasional transaction
Amendment 547 #
Proposal for a regulation
Article 20 – paragraph 1 – introductory part
Article 20 – paragraph 1 – introductory part
Before entering into a business relationship or performing an occasional transaction, an obliged entity shall obtain at least the following information in order to understand its purpose and intended nature in accordance with the risk-based approach:
Amendment 552 #
Proposal for a regulation
Article 20 – paragraph 1 – point c
Article 20 – paragraph 1 – point c
Amendment 555 #
Proposal for a regulation
Article 20 – paragraph 1 – point d
Article 20 – paragraph 1 – point d
Amendment 561 #
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 in any case not exceed fiveten years.
Amendment 564 #
Proposal for a regulation
Article 21 – paragraph 3 – point b
Article 21 – paragraph 3 – point b
Amendment 567 #
Proposal for a regulation
Article 22
Article 22
Amendment 580 #
Proposal for a regulation
Article 23 – paragraph 3
Article 23 – paragraph 3
Amendment 582 #
Proposal for a regulation
Article 23 – paragraph 4
Article 23 – paragraph 4
Amendment 584 #
Proposal for a regulation
Article 23 – paragraph 5
Article 23 – paragraph 5
Amendment 586 #
Proposal for a regulation
Article 23 – paragraph 6
Article 23 – paragraph 6
Amendment 637 #
Proposal for a regulation
Article 27 – paragraph 1 – introductory part
Article 27 – paragraph 1 – introductory part
(1) Where, taking into account the risk factors set out in Annexes II and III, the business relationship or transaction present a low degree of risk, obliged entities inter alia may apply the following simplified customer due diligence measures:
Amendment 640 #
Proposal for a regulation
Article 27 – paragraph 1 – point a
Article 27 – paragraph 1 – point a
(a) verify the identity of the customer and the beneficial owner after the establishment of the business relationship, provided that the specific lower risk identified justified such postponement, but in any case no later than 360 days of the relationship being established;
Amendment 658 #
Proposal for a regulation
Article 28 – paragraph 4 – point c
Article 28 – paragraph 4 – point c
(c) obtain additional information on the source of funds, and source and destination of wealth of the customer and of the beneficial owner(s);
Amendment 691 #
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 occasional transactions with politically exposed persons;
Amendment 697 #
Proposal for a regulation
Article 33 – paragraph 1 a (new)
Article 33 – paragraph 1 a (new)
(1a) When the list of exact functions is published, Member States may include functions which are not listed but are prominent public functions, within the meaning of Article 2(25), in the Member States concerned and should therefore fall within the scope of Article 32. With regard to the prominent public functions listed in Article 2(25)(a)(vi) and (vii), Member States may apply restrictive criteria when specifying the exact function in order to ensure that the exact functions given are comparable to those under Article 2(25)(a)(i) to (v) and Article 2(25)(b) to (d).
Amendment 708 #
Proposal for a regulation
Article 38 – paragraph 1 – introductory part
Article 38 – paragraph 1 – introductory part
(1) Obliged entities may rely on other obliged entities, whether situated in a Member State or in a third country, to meet the customer due diligence requirements laid down in Article 16(1), points (a), (b), (c) and (cd), and Article 21(2) and (3), provided that:
Amendment 712 #
Proposal for a regulation
Article 38 – paragraph 4 a (new)
Article 38 – paragraph 4 a (new)
4a. Other obliged entities may also be relied on in connection with reusing the principal's pre-existing data and documents.
Amendment 721 #
Proposal for a regulation
Article 40 – paragraph 2 – point b
Article 40 – paragraph 2 – point b
Amendment 723 #
Proposal for a regulation
Article 40 – paragraph 2 – point c
Article 40 – paragraph 2 – point c
Amendment 727 #
Proposal for a regulation
Article 40 – paragraph 2 – point d
Article 40 – paragraph 2 – point d
Amendment 731 #
Proposal for a regulation
Article 40 – paragraph 2 – point e
Article 40 – paragraph 2 – point e
Amendment 735 #
Proposal for a regulation
Article 40 – paragraph 2 – point f
Article 40 – paragraph 2 – point f
Amendment 749 #
Proposal for a regulation
Article 42 – paragraph 1 – introductory part
Article 42 – paragraph 1 – introductory part
(1) In case of corporate entities, the beneficial owner(s) as defined in Article 2(22) shall be the natural person(s) who control(s), directly or indirectly, the corporate entity, either through an ownership interest or through control via other means.Does not affect the English version.)
Amendment 760 #
Proposal for a regulation
Article 42 – paragraph 1 – subparagraph 1
Article 42 – paragraph 1 – subparagraph 1
For the purpose of this Article, ‘direct control through an ownership interest’ shall mean an ownership of 25% plus one of the shares or voting rights or other ownership interest of a natural person in the corporate entity, including through bearer shareholdings, on every level of ownership.
Amendment 765 #
Proposal for a regulation
Article 42 – paragraph 1 – subparagraph 2 – introductory part
Article 42 – paragraph 1 – subparagraph 2 – introductory part
For the purpose of this Article, ‘control via other meansindirect control through an ownership interest’ shall mean the holding of a corresponding ownership interest in one or more corporate entities controlled by a natural person. For the purpose of this Article, ‘direct or indirect control’ shall include at least one of the following:
Amendment 771 #
Proposal for a regulation
Article 42 – paragraph 1 – subparagraph 2 – point b
Article 42 – paragraph 1 – subparagraph 2 – point b
(b) the ability to exert a significexercise of dominant influence onver the decisions taken by the corporate entity, including veto rights, decision rights and any decisions regarding profit distributions or leading to a shift in assets;
Amendment 772 #
Proposal for a regulation
Article 42 – paragraph 1 – subparagraph 2 – point d
Article 42 – paragraph 1 – subparagraph 2 – point d
Amendment 796 #
Proposal for a regulation
Article 43 – title
Article 43 – title
Identification of beneficial owners for express trusts and similar legal entities or arrangements
Amendment 803 #
Proposal for a regulation
Article 44 – paragraph 1 – point a
Article 44 – paragraph 1 – point a
(a) the first name and surname, full place and date of birth, residential address, country of residence and nationality or nationalities of the beneficial owner, national identification number and source of it, such as passport or national identity document, and, where applicable, the tax identification number or other equivalent number assigned to the person by his or her country of usual residence;
Amendment 807 #
Proposal for a regulation
Article 44 – paragraph 1 – point b
Article 44 – paragraph 1 – point b
(b) the nature and extent of the beneficial interest held in the legal entity or legal arrangement, whether through ownership interest or control via other means, as well as the date of acquisition of the beneficial interest held;
Amendment 811 #
Proposal for a regulation
Article 44 – paragraph 2
Article 44 – paragraph 2
(2) Beneficial ownership information shall be obtained within 14 calendar dayfour weeks from the creation of legal entities or legal arrangements. It shall be updated promptly, and in any case no later than 14 calendar dayfour weeks following any change of the beneficial owner(s), and on an annual basis.
Amendment 814 #
Proposal for a regulation
Article 45 – paragraph 1 – subparagraph 2
Article 45 – paragraph 1 – subparagraph 2
The beneficial owner(s) of corporate or other legal entities shall provide those entities with all the information necessary for the corporate or other legal entity and shall inform obliged entities without undue delay about all changes relating to beneficial ownership.
Amendment 827 #
Proposal for a regulation
Article 45 – paragraph 5
Article 45 – paragraph 5
(5) The information referred to in paragraph 4 shall be maintained for five years after the date on which the companies are dissolved or otherwise ceases to exist, whether by persons designated by the entity to retain the documents, or by administrators or liquidators or other persons involved in the dissolution of the entity. The identity and contact details of the person responsible for retaining the information shall be reported to the registers referred to in Article 10 of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final].
Amendment 851 #
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, 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 for additional information in such cases;
Amendment 872 #
Proposal for a regulation
Article 51 – paragraph 2
Article 51 – paragraph 2
(2) Notaries, lawyers and other independent legal professionals, auditors, external accountants and tax advisors shall be exempted from the requirements laid down in Article 50(1) to the extent that such exemption relates to information that they receive from, or obtain on, one of their clients, in the course of ascertaining the legal position of their client, or performing their task of defending or representing that client in, or concerning, judicial proceedings, including providing advice on instituting or avoiding such proceedings, whether such information is received or obtained before, during or after such proceedings. However, the requirements under Article 50(1) shall apply where the obliged entity knows that legal advice or legal representation has been or is being used for the purpose of money laundering or terrorist financing. Within the limits of Union law, Member States may adopt or maintain rules in order to apply the requirements under Article 50(1) to obliged entities in other instances, notwithstanding the professional secrecy obligations of those obliged entities.
Amendment 877 #
Proposal for a regulation
Article 52 – paragraph 1 a (new)
Article 52 – paragraph 1 a (new)
1a. Obliged entities may carry out the transaction concerned if they have not received instructions to the contrary from the FIU within three days.
Amendment 879 #
Proposal for a regulation
Article 54 – paragraph 5
Article 54 – paragraph 5
(5) For obliged entities referred to in Article 3, points (1), (2), (3)(a) and (b), in cases relating to the same person (natural or legal) as customer and/or the same transaction or the same network of persons (natural and legal) and transactions involving two or more obliged entities, and by way of derogation from paragraph 1, disclosure may take place between the relevant obliged entities provided that they are located in the Union internal market, or with entities in a third country which imposes requirements equivalent to those laid down in this Regulation, and that they are from the same category of obliged entities and are subject to professional secrecy and personal data protection requirements.
Amendment 883 #
Proposal for a regulation
Article 54 – paragraph 5 b (new)
Article 54 – paragraph 5 b (new)
5b. By way of derogation from paragraph 1, disclosure may take place between an obliged entity and its agent or service provider to which it has outsourced activities relating to customer identification and compliance with due diligence obligations in accordance with Chapter III of this Regulation or the obligation to report suspicious transactions under Articles 50 and 51 of this Regulation.
Amendment 901 #
Proposal for a regulation
Article 55 a (new)
Article 55 a (new)
Amendment 902 #
Proposal for a regulation
Article 55 b (new)
Article 55 b (new)
Article 55 b For the purposes of combating money laundering, obliged entities shall be permitted to rely on technologies involving machine learning, artificial intelligence or similar automated individual decision-making processes, including profiling, in accordance with Article 22(2)(b) of Regulation (EU) 2016/679, in order to comply directly or indirectly with the requirements of this Regulation and of Regulation (EU) 2015/847, as well as all regulatory technical standards, guidelines or other customary instruments (directly or indirectly related to the prevention and combating of money laundering and terrorist financing) issued by AMLA in connection with the above Regulations. Obliged entities shall inform data subjects in their privacy statements, for example, that use is made of automated decisions, including profiling, in accordance with Article 22(2)(b) of Regulation (EU) 2016/679. That information should explain the significance and possible consequences of such use for the data subject. AMLA, in cooperation with the European Data Protection Board, should develop regulatory technical standards specifying the minimum information required. The logical processing methods behind automated decision-making and profiling shall be retained by obliged entities and may be made available to competent authorities upon request. Such logical processing methods should be treated in confidence by competent authorities.
Amendment 906 #
Proposal for a regulation
Article 56 – paragraph 3 – introductory part
Article 56 – paragraph 3 – introductory part
(3) The information referred to in paragraphs 1 and 2Customer data shall be retained for a period of five years after the end of a business relationship with their customer orand transaction data shall be retained for five years after the date of an occasional transaction. Upon expiry of that retention period, obliged entities shall delete personal data.
Amendment 918 #
Proposal for a regulation
Article 59
Article 59
Amendment 935 #
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.
Amendment 956 #
Proposal for a regulation
Annex II – paragraph 1 – point 2 – point d
Annex II – paragraph 1 – point 2 – point d
(d) financial products or services that provide appropriately defined and limited services to certain types of customers, so as to increase access for financial inclusion purposes; this category includes, inter alia, SME guarantees;