Source: OJ L 150, 9.6.2023, pp. 1–39

Article 18 Assessment and reporting

Summary What does Article 18 of the Transfer of funds regulation (TFR) say?

This brief but important article connects the information requirements established earlier in the regulation to the broader anti-money laundering framework.

It places an obligation on the beneficiary's crypto-asset service provider to treat missing or incomplete originator or beneficiary information as a red flag when conducting suspicion assessments, and to factor this into decisions about whether to file a report with the Financial Intelligence Unit under Directive (EU) 2015/849.

Important points:

As the crypto-asset service provider of the beneficiary, treat missing or incomplete information on the originator or beneficiary as a factor in assessing whether a transfer is suspicious.
This suspicion assessment covers not just the transfer itself but also any related transaction.
Where a transfer is deemed suspicious, the obligation to report to the FIU is governed by Directive (EU) 2015/849.

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

The crypto-asset service provider of the beneficiary shall take into account missing or incomplete information on the originator or the beneficiary as a factor when assessing whether a transfer of crypto-assets, or any related transaction, is suspicious and whether it is to be reported to the FIU in accordance with Directive (EU) 2015/849.

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.

Relevant recitals