Annexes to COM(2021)420 - Prevention of the use of the financial system for the purposes of money laundering or terrorist financing - Main contents

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dossier	COM(2021)420 - Prevention of the use of the financial system for the purposes of money laundering or terrorist financing.
document	COM(2021)420
date	May 31, 2024

agreements for consumers relating to residential immovable property and amending Directives 2008/48/EC and 2013/36/EU and Regulation (EU) No 1093/2010 (OJ L 60, 28.2.2014, p. 34).

(37) Directive 2008/48/EC of the European Parliament and of the Council of 23 April 2008 on credit agreements for consumers and repealing Council Directive 87/102/EEC (OJ L 133, 22.5.2008, p. 66).

(38) Directive 2009/110/EC of the European Parliament and of the Council of 16 September 2009 on the taking up, pursuit and prudential supervision of the business of electronic money institutions amending Directives 2005/60/EC and 2006/48/EC and repealing Directive 2000/46/EC (OJ L 267, 10.10.2009, p. 7).

(39) Regulation (EU) 2018/1672 of the European Parliament and of the Council of 23 October 2018 on controls on cash entering or leaving the Union and repealing Regulation (EC) No 1889/2005 (OJ L 284, 12.11.2018, p. 6).

(40) Council Regulation (EC) No 116/2009 of 18 December 2008 on the export of cultural goods (OJ L 39, 10.2.2009, p. 1).

(41) Directive (EU) 2019/1937 of the European Parliament and of the Council of 23 October 2019 on the protection of persons who report breaches of Union law (OJ L 305, 26.11.2019, p. 17).

(42) Council Directive 2011/16/EU of 15 February 2011 on administrative cooperation in the field of taxation and repealing Directive 77/799/EEC (OJ L 64, 11.3.2011, p. 1).

(43) Directive 2014/24/EU of the European Parliament and of the Council of 26 February 2014 on public procurement and repealing Directive 2004/18/EC (OJ L 94, 28.3.2014, p. 65).

(44) Directive (EU) 2016/680 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data by competent authorities for the purposes of the prevention, investigation, detection or prosecution of criminal offences or the execution of criminal penalties, and on the free movement of such data, and repealing Council Framework Decision 2008/977/JHA (OJ L 119, 4.5.2016, p. 89).

(45) Regulation (EU) 2024/xxx of the European Parliament and of the Council of xxx laying down harmonised rules on artificial intelligence and amending Regulations (EC) No 300/2008, (EU) No 167/2013, (EU) No 168/2013, (EU) 2018/858, (EU) 2018/1139 and (EU) 2019/2144 and Directives 2014/90/EU, (EU) 2016/797 and (EU) 2020/1828 (Artificial Intelligence Act) (Not yet published in the Official Journal).

(46) Regulation (EU) 2015/751 of the European Parliament and of the Council of 29 April 2015 on interchange fees for card-based payment transactions (OJ L 123, 19.5.2015, p. 1).

(47) Council Decision 98/415/EC of 29 June 1998 on the consultation of the European Central Bank by national authorities regarding draft legislative provisions (OJ L 189, 3.7.1998, p. 42).

(48) Regulation (EU, Euratom) No 883/2013 of the European Parliament and of the Council of 11 September 2013 concerning investigations conducted by the European Anti-Fraud Office (OLAF) and repealing Regulation (EC) No 1073/1999 of the European Parliament and of the Council and Council Regulation (Euratom) No 1074/1999 (OJ L 248, 18.9.2013, p. 1).

ANNEX I

Indicative list of risk variables

The following is a non-exhaustive list of risk variables that obliged entities shall take into account when drawing up their risk assessment in accordance with Article 10 and when determining to what extent to apply customer due diligence measures in accordance with Article 20:

(a)

Customer risk variables:

(i)	the customer’s and the customer’s beneficial owner’s business or professional activity;

(ii)	the customer’s and the customer’s beneficial owner’s reputation;

(iii)

the customer’s and the customer’s beneficial owner’s nature and behaviour;

(iv)	the jurisdictions in which the customer and the customer’s beneficial owner are based;

(v)	the jurisdictions that are the customer’s and the customer’s beneficial owner’s main places of business;

(vi)	the jurisdictions to which the customer and the customer’s beneficial owner have relevant personal links;

(b)

Product, service or transaction risk variables:

(i)	the purpose of an account or relationship;

(ii)	the regularity or duration of the business relationship;

(iii)

the level of assets to be deposited by a customer or the size of transactions undertaken;

(iv)	the level of transparency, or opaqueness, the product, service or transaction affords;

(v)	the complexity of the product, service or transaction;

(vi)	the value or size of the product, service or transaction;

(c)

Delivery channel risk variables:

(i)	the extent to which the business relationship is conducted on a non-face-to-face basis;

(ii)	the presence of any introducers or intermediaries that the customer might use and the nature of their relationship with the customer;

(d)

Risk variable for life and other investment-related insurance:

(i)	the risk level presented by the beneficiary of the insurance policy.

ANNEX II

Lower risk factors

The following is a non-exhaustive list of factors and types of evidence of potentially lower risk referred to in Article 20:

(1)

Customer risk factors:

(a)	public companies listed on a stock exchange and subject to disclosure requirements (either by stock exchange rules or through law or enforceable means), which impose requirements to ensure adequate transparency of beneficial ownership;

(b)	public administrations or enterprises;

(c)	customers that are resident in geographical areas of lower risk as set out in point (3);

(2)

Product, service, transaction or delivery channel risk factors:

(a)	life insurance policies for which the premium is low;

(b)	insurance policies for pension schemes if there is no early surrender option and the policy cannot be used as collateral;

(c)	a pension, superannuation or similar scheme that provides retirement benefits to employees, where contributions are made by way of deduction from wages, and the scheme rules do not permit the assignment of a member’s interest under the scheme;

(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;

(e)	products where the risks of money laundering and terrorist financing are managed by other factors such as purse limits or transparency of ownership (e.g. certain types of electronic money);

(3)

Geographical risk factors — registration, establishment, residence in:

(a)	Member States;

(b)	third countries having effective AML/CFT systems;

(c)	third countries identified by credible sources as having a low level of corruption or other criminal activity;

(d)

third countries which, on the basis of credible sources such as mutual evaluations, detailed assessment reports or published follow-up reports, have requirements to combat money laundering and terrorist financing consistent with the revised FATF Recommendations and effectively implement those requirements.

ANNEX III

Higher risk factors

The following is a non-exhaustive list of factors and types of evidence of potentially higher risk referred to in Article 20:

(1)

Customer risk factors:

(a)	the business relationship or occasional transaction is conducted in unusual circumstances;

(b)	customers that are resident in geographical areas of higher risk as set out in point (3);

(c)	legal persons or legal arrangements that are personal asset-holding vehicles;

(d)	corporate entities that have nominee shareholders or shares in bearer form;

(e)	businesses that are cash-intensive;

(f)	the ownership structure of the company appears unusual or excessively complex given the nature of the company’s business;

(g)

customer is a third-country national who applies for residence rights in a Member State in exchange of any kind of investment, including 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;

(h)	customer is a legal entity or arrangement created or set up in a jurisdiction in which it has no real economic activity, substantial economic presence or apparent economic rationale;

(i)	customer is directly or indirectly owned by one or several entities or arrangements under point (h);

(2)

Product, service, transaction or delivery channel risk factors:

(a)	private banking;

(b)	products or transactions that might favour anonymity;

(c)	payment received from unknown or unassociated third parties;

(d)	new products and new business practices, including new delivery mechanism, and the use of new or developing technologies for both new and pre-existing products;

(e)	transactions related to oil, arms, precious metals or stones, tobacco products, cultural artefacts and other items of archaeological, historical, cultural and religious importance, or of rare scientific value, as well as ivory and protected species;

(3)

Geographical risk factors:

(a)	third countries subject to increased monitoring or otherwise identified by the FATF due to the compliance weaknesses in their AML/CFT systems;

(b)	third countries identified by credible sources / acknowledged processes, such as mutual evaluations, detailed assessment reports or published follow-up reports, as not having effective AML/CFT systems;

(c)	third countries identified by credible sources / acknowledged processes as having significant levels of corruption or other criminal activity;

(d)	third countries subject to sanctions, embargos or similar measures issued by, for example, the Union or the UN;

(e)	third countries providing funding or support for terrorist activities, or that have designated terrorist organisations operating within their country;

(f)

third countries identified by credible sources or pursuant to acknowledged processes as enabling financial secrecy by:

(i)	posing barriers to the cooperation and exchange of information with other jurisdictions;

(ii)	having strict corporate or banking secrecy laws which prevent institutions and their employees from providing customer information to competent authorities, including through fines and penalties;

(iii)

having weak controls for the creation of legal entities or setting up of legal arrangements; or

(iv)	not requiring beneficial ownership information to be recorded or held in a central database or register.

ANNEX IV

List of high value goods referred to in Article 2(1), point (54):

(1)	Jewellery, gold- or silversmith articles of a value exceeding EUR 10 000 or the equivalent in national currency;

(2)	Clocks and watches of a value exceeding EUR 10 000 or the equivalent in national currency;

(3)	Motor vehicles of a price exceeding EUR 250 000 or the equivalent in national currency;

(4)	Aircraft of a price exceeding EUR 7 500 000 or the equivalent in national currency;

(5)	Watercraft of a price exceeding EUR 7 500 000 or the equivalent in national currency.

ANNEX V

Precious metals referred to in Article 2(1), point (55):

(a)

Gold

(b)

Silver

(c)

Platinium

(d)

Iridium

(e)

Osmium

(f)

Palladium

(g)

Rhodium

(h)	Rhutenium.

Precious stones referred to in Article 2(1), point (55):

(a)

Diamond

(b)

Ruby

(c)

Sapphire

(d)

Emerald.

ANNEX VI

Correlation table

Directive (EU) 2015/849	Directive (EU) 2024/1640	This Regulation
Article 1(1)	—	—
Article 1(2)	—	—
Article 1(3)	—	Article 2(1), point (1)
Article 1(4)	—	Article 2(1), point (1)
Article 1(5)	—	Article 2(1), point (2)
Article 1(6)	—	Article 2(1), points (1) and (2)
Article 2(1)	—	Article 3
Article 2(2)	—	Article 4
Article 2(3)	—	Article 6(1)
Article 2(4)	—	Article 6(2)
Article 2(5)	—	Article 6(3)
Article 2(6)	—	Article 6(4)
Article 2(7)	—	Article 6(5)
Article 2(8)	—	Article 7
Article 2(9)	—	Article 4(3) and Article 6(6)
Article 3, point (1)	—	Article 2(1), point (5)
Article 3, point (2)	—	Article 2(1), point (6)
Article 3, point (3)	—	Article 2(1), point (4)
Article 3, point (4)	—	Article 2(1), point (3)
Article 3, point (5)	—	Article 2(1), point (47)
Article 3, point (6)	—	Article 2(1), point (28)
Article 3, point (6) (a)	—	Articles 51 to 55
Article 3, point (6) (b)	—	Article 58
Article 3, point (6) (c)	—	Article 57
Article 3, point (7)	—	Article 2(1), point (11)
Article 3, point (8)	—	Article 2(1), point (22)
Article 3, point (9)	—	Article 2(1), point (34) and Article 2(2)
Article 3, point (10)	—	Article 2(1), point (35) and Article 2(5)
Article 3, point (11)	—	Article 2(1), point (36)
Article 3, point (12)	—	Article 2(1), point (40)
Article 3, point (13)	—	Article 2(1), point (19)
Article 3, point (14)	—	Article 2(1), point (12)
Article 3, point (15)	—	Article 2(1), point (41)
Article 3, point (16)	—	Article 2(1), point (17)
Article 3, point (17)	—	Article 2(1), point (23)
Article 3, point (18)	—	Article 2(1), point (7)
Article 3, point (19)	—	—
Article 4	Article 3	—
Article 5	—	—
Article 6	Article 7	—
Article 7	Article 8	—
Article 8(1)	—	Article 10(1)
Article 8(2)	—	Article 10(2) and (3)
Article 8(3)	—	Article 9(1)
Article 8(4)	—	Article 9(2)
Article 8(5)	—	Article 9(2) and (3)
Article 9	—	Article 29
Article 10(1)	—	Article 79(1)
Article 10(2)	—	Article 79(3)
Article 11	—	Article 19(1), (2) and (5)
Article 12	—	Article 19(7) and Article 79(2)
Article 13(1)	—	Article 20(1)
Article 13(2)	—	Article 20(2)
Article 13(3)	—	Article 20(2)
Article 13(4)	—	Article 20(4)
Article 13(5)	—	Article 47
Article 13(6)	—	Article 22(4)
Article 14(1)	—	Article 23(1) and (4)
Article 14(2)	—	Article 23(2)
Article 14(3)	—	Article 23(3)
Article 14(4)	—	Article 21(1) and (2)
Article 14(5)	—	Article 26(2) and (3)
Article 15	—	Article 20(2), second subparagraph and Article 33
Article 16	—	Article 33(1)
Article 17	—	—
Article 18(1)	—	Article 34(1) and (8)
Article 18(2)	—	Article 34(2)
Article 18(3)	—	Article 34(3)
Article 18(4)	—	—
Article 18a(1)	—	Article 29(4)
Article 18a(2)	—	Article 29(5) and (6) and Article 35, point (a)
Article 18a(3)	—	Article 29(5) and (6) and Article 35, point (b)
Article 18a(4)	—	—
Article 18a(5)	—	Article 29(6)
Article 19	—	Article 36
Article 20	—	Article 9(2), Article 20(1) and Article 42(1)
Article 20, point (a)	—	Article 9(2), point (a)(iii) and Article 20(1), point (g)
Article 20, point (b)	—	Article 42(1)
Article 20a	—	Article 43
Article 21	—	Article 44
Article 22	—	Article 45
Article 23	—	Article 46
Article 24	—	Article 39
Article 25	—	Article 48(1)
Article 26	—	Article 48
Article 27	—	Article 49
Article 28	—	Article 48(3)
Article 29	—	—
Article 30(1)	—	Article 63(1), (2), second subparagraph and (4) and Article 68
Article 30(2)	—	Article 63(5)
Article 30(3)	Article 10(1)	—
Article 30(4)	Article 10(7) and (10)	Article 24
Article 30(5), first subparagraph	Article 11 and Article 12(2)	—
Article 30(5), second subparagraph	Article 12(1)	—
Article 30(5), third subparagraph	—	—
Article 30(5a)	Article 11(4) and Article 13(12)	—
Article 30(6)	Article 11(1), (2) and (3)	—
Article 30(7)	Article 61(2)	—
Article 30(8)	—	Article 22(7)
Article 30(9)	Article 15	—
Article 30(10)	Article 10(19) and (20)	—
Article 31(1)	—	Articles 58, Article 64(1) and Article 68
Article 31(2)	—	Article 64(3)
Article 31(3)	—	Article 64(5)
Article 31(3a)	Article 10(1), (2) and (3)	Article 67
Article 31(4), first subparagraph	Article 11 and Article 12(2)	—
Article 31(4), second subparagraph	Article 12(1)	—
Article 31(4), third subparagraph	—	—
Article 31(4), fourth subparagraph	Article 11(2)	—
Article 31(4a)	Article 11(4) and Article 13(12)	—
Article 31(5)	Article 10(7) and (10)	Article 24
Article 31(6)	—	Article 22(7)
Article 31(7)	Article 61(2)	—
Article 31(7a)	Article 15	—
Article 31(9)	Article 10(19) and (20)	—
Article 31(10)	—	Article 58(4)
Article 31a	Article 17(1)	—
Article 32(1)	Article 19(1)	—
Article 32(2)	Article 62(1)	—
Article 32(3)	Article 19(2), (3), first subparagraph, (4) and (5)	—
Article 32(4)	Articles 21(1) and Article 22(1), first subparagraph	—
Article 32(5)	Article 22(1), second subparagraph	—
Article 32(6)	Article 22(2)	—
Article 32(7)	Article 24(1)	—
Article 32(8)	Article 19(3), second subparagraph	—
Article 32(9)	Article 21(4)	—
Article 32a(1)	Article 16(1)	—
Article 32a(2)	Article 16(2)	—
Article 32a(3)	Article 16(3)	—
Article 32a(4)	Article 16(5)	—
Article 32b	Article 18	—
Article 33(1)	—	Article 69(1)
Article 33(2)	—	Article 69(6)
Article 34(1)	—	Article 70(1)
Article 34(2)	—	Article 70(2)
Article 34(3)	Article 40(5)	—
Article 35	—	Article 71
Article 36	Article 42	—
Article 37	—	Article 72
Article 38	Article 60	Article 11(2), fourth subparagraph, and (4), Article 14 and Article 69(7)
Article 39	—	Article 73
Article 40	—	Article 77
Article 41	Article 70	Article 76
Article 42	—	Article 78
Article 43	—	—
Article 44(1)	Article 9(1)	—
Article 44(2)	Article 9(2)	—
Article 44(3)	—	—
Article 44(4)	Article 9(3) and (6)	—
Article 45(1)	—	Article 16(1)
Article 45(2)	—	Article 8(3), (4) and (5)
Article 45(3)	—	Article 17(1)
Article 45(4)	Article 48	—
Article 45(5)	—	Article 17(2)
Article 45(6)	—	Article 17(3)
Article 45(7)	—	Article 17(4)
Article 45(8)	—	Article 16(3)
Article 45(9)	Article 41(1)	—
Article 45(10)	Article 41(2)	—
Article 45(11)	Article 41(3)	—
Article 46(1)	—	Articles 12 and 15
Article 46(2)	Article 39(2)	—
Article 46(3)	Article 28(1)	—
Article 46(4)	—	Article 11(1)
Article 47(1)	Article 4(1) and (2)	—
Article 47(2)	Article 6(1)	—
Article 47(3)	Article 6(2)	—
Article 48(1)	Article 37(1)	—
Article 48(1a)	Article 37(5) and Article 62(1)	—
Article 48(2)	Article 37(2) and (6)	—
Article 48(3)	Article 37(7)	—
Article 48(4)	Article 37(1), first subparagraph, Article 46 and Article 54(4)	—
Article 48(5)	Article 46(2) and (3) and Article 47	—
Article 48(6)	Article 40(1)	—
Article 48(7)	Article 40(2)	—
Article 48(8)	Article 40(4)	—
Article 48(9)	Article 37(3)	—
Article 48(10)	Article 40(3)	—
Article 49	Article 61(1)	—
Article 50	Article 63	—
Article 50a	Article 61(3)	—
Article 51	—	—
Article 52	Article 29	—
Article 53	Article 31	—
Article 54	Article 33	—
Article 55	Article 34	—
Article 56	Article 30(2) and (3)	—
Article 57	Article 35	—
Article 57a(1)	Article 67(1)	—
Article 57a(2)	Article 67(2)	—
Article 57a(3)	Article 67(3)	—
Article 57a(4)	Article 44, Article 46(1) and Article 47(1)	—
Article 57a(5)	Article 51	—
Article 57b	Article 68	—
Article 58(1)	Article 53(1)	—
Article 58(2)	Article 53(2) and (3)	—
Article 58(3)	Article 53(4)	—
Article 58(4)	—	—
Article 58(5)	Article 53(5)	—
Article 59(1)	Article 55(1)	—
Article 59(2)	Article 55(2) and Article 56(2) and (3)	—
Article 59(3)	Article 55(3)	—
Article 59(4)	Article 55(4)	—
Article 60(1)	Article 58(1), (2), first subparagraph and (3)	—
Article 60(2)	Article 58(2), third subparagraph	—
Article 60(3)	Article 58(4)	—
Article 60(4)	Article 53(6)	—
Article 60(5)	Article 53(7)	—
Article 60(6)	Article 53(8)	—
Article 61	Article 60	—
Article 62(1)	Article 59(1)	—
Article 62(2)	Article 6(6)	—
Article 62(3)	Article 59(2)	—
Article 63	—	—
Article 64	—	Article 85
Article 64a	Article 72	Article 86
Article 65	—	—
Article 66	—	—
Article 67	—	—
Article 68	—	—
Article 69	—	—
Annex I	—	Annex I
Annex II	—	Annex II
Annex III	—	Annex III
Annex IV	—	—

ELI: http://data.europa.eu/eli/reg/2024/1624/oj

ISSN 1977-0677 (electronic edition)