Article 36 AMLR – Specific enhanced due diligence measures for cross-border correspondent relationships With respect to cross-border correspondent relationships, including relationships established for securities transactions or fund transfers, involving the execution of payments with a third-country respondent institution, in addition to the customer due diligence measures laid down in Article 20, credit institutions and financial institutions shall, when entering into a business relationship, be required to: (a) gather sufficient information about the respondent institution to understand fully the nature of the respondent’s business and to determine from publicly available information the reputation of the institution and the quality of supervision; (b) assess the respondent institution’s AML/CFT controls; (c) obtain … Continue reading Article 36 AMLRRead More →