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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 September 2023 - onwards
  Version 4 of 4    

Regulation 27 Customer due diligence

(1) A relevant person must apply customer due diligence measures if the person -

(a) establishes a business relationship;

(b) carries out an occasional transaction that amounts to a transfer of funds within the meaning of Article 3.9 of the funds transfer regulation exceeding 1,000 euros;

(c) suspects money laundering or terrorist financing; or

(d) doubts the veracity or adequacy of documents or information previously obtained for the purposes of identification or verification.

(2) A relevant person who is not a letting agent, a high value dealer an art market participant, a cryptoasset exchange provider of the kind referred to in paragraph (7D)  or (7E), a custodian wallet provider of the kind referred to in paragraph (7E) or a casino must also apply customer due diligence measures if the person carries out an occasional transaction that amounts to 15,000 euros or more, whether the transaction is executed in a single operation or in several operations which appear to be linked.

(3) A

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