Art. 48 General provisions relating to reliance on other obliged entities | Anti-money laundering regulation (AMLR) | AML

1. Obliged entities may rely on other obliged entities, whether located in a Member State or in a third countrymeans any jurisdiction, independent state or autonomous territory that is not part of the Union and that has its own AML/CFT legislation or enforcement regime;, to meet the customer due diligence requirements laid down in Article 20(1), points (a), (b) and (c), provided that:
  1. the other obliged entities apply customer due diligence requirements and record-keeping requirements laid down in this Regulation, or equivalent when the other obliged entities reside or are established in a third countrymeans any jurisdiction, independent state or autonomous territory that is not part of the Union and that has its own AML/CFT legislation or enforcement regime;;
  2. compliance with AML/CFT requirements by the other obliged entities is supervised in a manner consistent with Chapter IV of Directive (EU) 2024/1640.
2. The ultimate responsibility for meeting the customer due diligence requirements shall remain with the obliged entity which relies on another obliged entity.
1. When deciding to rely on other obliged entities located in third countriesmeans any jurisdiction, independent state or autonomous territory that is not part of the Union and that has its own AML/CFT legislation or enforcement regime;, obliged entities shall take into consideration the geographical risk factors listed in Annexes II and III and any relevant information or guidance provided by the Commission, or by AMLA or other competent authoritiesmeans:a Financial Intelligence Unit (FIU);a supervisory authority;a public authority that has the function of investigating or prosecuting money laundering, its predicate offences or terrorist financing, or that has the function of tracing, seizing or freezing and confiscating criminal assets;a public authority with designated responsibilities for combating money laundering or terrorist financing;.
1. In the case of obliged entities that are part of a groupmeans a group of undertakings which consists of a parent undertaking, its subsidiaries, as well as undertakings linked to each other by a relationship within the meaning of Article 22 of Directive 2013/34/EU;, compliance with the requirements of this Article and of Article 49 may be ensured through group-wide policies, procedures and controls provided that all the following conditions are met:
  1. the obliged entity relies on information provided solely by an obliged entity that is part of the same groupmeans a group of undertakings which consists of a parent undertaking, its subsidiaries, as well as undertakings linked to each other by a relationship within the meaning of Article 22 of Directive 2013/34/EU;;
  2. the groupmeans a group of undertakings which consists of a parent undertaking, its subsidiaries, as well as undertakings linked to each other by a relationship within the meaning of Article 22 of Directive 2013/34/EU; applies AML/CFT policies and procedures, customer due diligence measures and rules on record-keeping that are fully in compliance with this Regulation, or with equivalent rules in third countriesmeans any jurisdiction, independent state or autonomous territory that is not part of the Union and that has its own AML/CFT legislation or enforcement regime;;
  3. the effective implementation of the requirements referred to in point (b) of this paragraph is supervised at groupmeans a group of undertakings which consists of a parent undertaking, its subsidiaries, as well as undertakings linked to each other by a relationship within the meaning of Article 22 of Directive 2013/34/EU; level by the supervisory authoritymeans a supervisor who is a public body, or the public authority overseeing self-regulatory bodies in their performance of supervisory functions pursuant to Article 37 of Directive (EU) 2024/1640, or AMLA when acting as a supervisor; of the home Member State in accordance with Chapter IV of Directive (EU) 2024/1640 or of the third countrymeans any jurisdiction, independent state or autonomous territory that is not part of the Union and that has its own AML/CFT legislation or enforcement regime; in accordance with the rules of that third countrymeans any jurisdiction, independent state or autonomous territory that is not part of the Union and that has its own AML/CFT legislation or enforcement regime;.
1. Obliged entities shall not rely on obliged entities established in third countriesmeans any jurisdiction, independent state or autonomous territory that is not part of the Union and that has its own AML/CFT legislation or enforcement regime; identified pursuant to Section 2 of this Chapter. However, obliged entities established in the Union whose branches and subsidiaries are established in those third countriesmeans any jurisdiction, independent state or autonomous territory that is not part of the Union and that has its own AML/CFT legislation or enforcement regime; may rely on those branches and subsidiaries, where all the conditions laid down in paragraph 3, are met.