Art. 23 Customer identification data updates in low-risk situations | RTS on customer due diligence | AML

1. Where, in cases with a low degree of ML/TF risk, obliged entities reduce the frequency of customer identification updates as referred to in Article 33(1), point (b), of Regulation (EU) 2024/1624, obliged entities shall monitor the relationship in order to be satisfied that:
  1. there is no change in the circumstances relevant for the assessment of the business relationshipmeans a business, professional or commercial relationship connected with the professional activities of an obliged entity, which is set up between an obliged entity and a customer, including in the absence of a written contract and which is expected to have, at the time when the contact is established, or which subsequently acquires, an element of repetition or duration; with the customer;
  2. no event took place which would require an information update; and
  3. no suspicious and/or unusual transactions or activities were identified that are inconsistent with a low-risk relationship.
1. In any case, obliged entities shall update the customer identification data in accordance with Article 26(2), point (b), of Regulation (EU) 2024/1624.