Art. 49 Process of reliance on another obliged entity | Anti-money laundering regulation (AMLR) | AML

This article sets out the procedural mechanics that govern how obliged entities must handle information when one relies on another to perform customer due diligence.

It builds directly on Article 48, which establishes the conditions under which such reliance is permitted.

Here, the focus shifts to the practical obligations that flow from that arrangement: what information must be obtained, how quickly it must be provided, and how the arrangement must be formalised.

Important points:

Obtain all necessary customer due diligence information from the obliged entity you are relying upon, including identification data, supporting verification documents, and information on the purpose of the business relationship.
The obliged entity being relied upon must provide the requested information within 5 working days.
Formalise the information-sharing arrangement in a written agreement, though within a group this may be replaced by an internal group-level procedure, subject to the conditions in Article 48(3) being met.

1. Obliged entities shall obtain from the obliged entity relied upon all the necessary information concerning the customer due diligence measures laid down in Article 20(1), points (a), (b) and (c), or the business being introduced.
1. Obliged entities which rely on other obliged entities shall take all necessary steps to ensure that the obliged entity relied upon provides, upon request:
  1. copies of the information collected to identify the customer;
  2. all supporting documents or trustworthy sources of information that were used to verify the identity of the client, and, where relevant, of the customer’s beneficial owners or persons on whose behalf the customer acts, including data obtained through electronic identification means and relevant trust services as set out in Regulation (EU) No 910/2014; and
  3. any information collected on the purpose and intended nature of the business relationship.
1. The information referred to in paragraphs 1 and 2 shall be provided by the obliged entity relied upon without delay and in any case within 5 working days.
1. The conditions for the transmission of the information and documents mentioned in paragraphs 1 and 2 shall be specified in a written agreement between the obliged entities.
1. Where the obliged entity relies on an obliged entity that is part of its group, the written agreement may be replaced by an internal procedure established at group level, provided that the conditions laid down in Article 48(3) are met.