Source: OJ L, 2024/1624, 19.6.2024

Article 78 Provision of records to competent authorities

Summary What does Article 78 of the Anti-money laundering regulation (AMLR) say?

This brief but operationally important article requires obliged entities to maintain systems capable of responding fully and speedily to enquiries from their FIU or other competent authorities.

It connects closely to the broader record-keeping obligations in the regulation, effectively ensuring that the data retained under those obligations can actually be retrieved and communicated when authorities need it.

The focus is on the practical infrastructure side: having the right systems in place to answer questions about whether a business relationship with a specific person exists or has existed.

Important points:

Implement systems that can respond fully and speedily to authority enquiries about business relationships.
The lookback window for these enquiries covers a five-year period prior to the enquiry being made.
All responses must be made through secure channels and in a manner that ensures full confidentiality of the enquiries.

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

Obliged entities shall have systems in place that enable them to respond fully and speedily to enquiries from their FIU or from other competent authorities, in accordance with national law, as to whether they are maintaining or have maintained, during a five-year period prior to that enquiry a business relationship with specified persons, and on the nature of that relationship, through secure channels and in a manner that ensures full confidentiality of the enquiries.

Table of contents

Springlex and this text is meant purely as a documentation tool and has no legal effect. No liability is assumed for its content. The authentic version of this act is the one published in the Official Journal of the European Union.