Article 42 AMLR – Specific provisions regarding politically exposed persons 1.   In addition to the customer due diligence measures laid down in Article 20, obliged entities shall apply the following measures with respect to occasional transactions or business relationships with politically exposed persons: (a) obtain senior management approval for carrying out occasional transactions or for establishing or continuing business relationships with politically exposed persons; (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; (c) conduct enhanced, ongoing monitoring of those business relationships. 2.   By 10 July 2027, AMLA shall issue guidelines on … Continue reading Article 42 AMLRRead More →