Art. 26 Additional information on the intended nature of the business relationship | RTS on customer due diligence | AML

This article supports the enhanced due diligence framework established under Article 34(4) of Regulation (EU) 2024/1624, specifically addressing what additional information obliged entities must gather about the intended nature of a business relationship.

The article is focused on ensuring that the information held on a customer's business relationship is not taken at face value, but actively verified for authenticity, consistency with fund flows, and alignment with the customer's broader financial profile.

Important points:

Obtain additional information on the intended nature of a business relationship to verify it is authentic, that the destination of funds is consistent with it, and that expected transaction patterns align with the customer's declared activity and wealth.
The goal across all three angles is internal consistency — obliged entities must be satisfied that what customers claim matches how they actually operate.
This additional information may include details on the customer's key customers, contracts, business partners, associates, or the beneficial owner's business relationships.

1. For the purposes of Article 34(4), point (b), of Regulation (EU) 2024/1624, obliged entities shall obtain one or more of the following additional information on the intended nature of the business relationship that will allow them to:
  1. be satisfied that the information they hold is authentic and accurate when it comes to information on the intended nature of the business relationship; or
  2. be satisfied that the destination of funds is consistent with the stated nature of the business relationship or occasional transaction and the customer’s risk profile; or
  3. assess that the expected number, size, type, volume and frequency of transactions that are expected to be performed are consistent with the declared business activity, source of funds or source of wealth of the customer.
1. For the purposes of points (a) to (c) of paragraph 1, information to be obtained by obliged entities may consist of additional information on the customer’s key customers, contracts, business partners, associates or the occasional transaction, including, where relevant, the beneficial owner’s business partners or associates.