Source: OJ L, 2024/1624, 19.6.2024

Article 1 Subject matter

Summary What does Article 1 of the Anti-money laundering regulation (AMLR) say?

This is the foundational scope article of the regulation.

It sets out the three broad areas the regulation governs: the AML/CFT obligations on obliged entities, the transparency of who ultimately owns or controls legal entities and arrangements, and the restriction of anonymous financial instruments.

Everything that follows in the regulation flows from these three pillars.

Important points:

Apply measures to prevent money laundering and terrorist financing as an obliged entity under this regulation.
Beneficial ownership transparency requirements apply to legal entities, express trusts, and similar legal arrangements.
The regulation introduces measures to limit the misuse of anonymous instruments.

Springlex's summary of the article, a reading aid, not a substitute for the legal text.

This Regulation lays down rules concerning:

the measures to be applied by obliged entities to prevent money laundering and terrorist financing;
beneficial ownership transparency requirements for legal entities, express trusts and similar legal arrangements;
measures to limit the misuse of anonymous instruments.

Table of contents

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