Article 24 Minimum information to identify the purpose and intended nature of the business relationship or occasional transaction in low-risk situations

This is a draft act

This text has been parsed from the AMLA consultation paper draft as published on 9 February 2026. While we run a suite of validations, the automated parsing can result in errors. Also, before it is finally adopted by the Commission, its wording, numbering and references may change, and entire articles might be removed or added.

In order to apply simplified due diligence measures pursuant to Article 33(1), point (c), of Regulation (EU) 2024/1624, obliged entities shall at least take risk-sensitive measures to understand:
1. the intended use of the products or services requested by the customer;
2. where applicable, the estimated value of transactions during 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; or of the occasional transaction;
3. where necessary, the source of fundsor ‘property’ means property as defined in Article 2, point (2), of Directive (EU) 2018/1673;.

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