Article 73 Prohibition of disclosure

Obliged entities and their directors, employees, or persons in comparable positions, including agents and distributors, shall not disclose to the customer concerned or to other third persons the fact that transactions or activities are being or have been assessed in accordance with Article 69, that information is being, will be or has been transmitted in accordance with Article 69 or 70 or that a money launderingmeans the conduct set out in Article 3, paragraphs 1 and 5, of Directive (EU) 2018/1673 including aiding and abetting, inciting and attempting to commit that conduct, whether the activities which generated the property to be laundered were carried out on the territory of a Member State or on that of a third country; knowledge, intent or purpose required as an element of that conduct may be inferred from objective factual circumstances; or terrorist financingmeans the conduct set out in Article 11 of Directive (EU) 2017/541 including aiding and abetting, inciting and attempting to commit that conduct, whether carried out on the territory of a Member State or on that of a third country; knowledge, intent or purpose required as an element of that conduct may be inferred from objective factual circumstances; analysis is being, or may be, carried out.

Paragraph 1 shall not apply to disclosures to 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; and to self-regulatory bodiesmeans a body that represents members of a profession and has a role in regulating them, in performing certain supervisory or monitoring functions and in ensuring the enforcement of the rules relating to them; where they perform supervisory functions, or to disclosure for the purposes of investigating and prosecuting money launderingmeans the conduct set out in Article 3, paragraphs 1 and 5, of Directive (EU) 2018/1673 including aiding and abetting, inciting and attempting to commit that conduct, whether the activities which generated the property to be laundered were carried out on the territory of a Member State or on that of a third country; knowledge, intent or purpose required as an element of that conduct may be inferred from objective factual circumstances;, terrorist financingmeans the conduct set out in Article 11 of Directive (EU) 2017/541 including aiding and abetting, inciting and attempting to commit that conduct, whether carried out on the territory of a Member State or on that of a third country; knowledge, intent or purpose required as an element of that conduct may be inferred from objective factual circumstances; and other criminal activitymeans criminal activity as defined in Article 2, point (1), of Directive (EU) 2018/1673, as well as fraud affecting the Union’s financial interests as defined in Article 3(2) of Directive (EU) 2017/1371, passive and active corruption as defined in Article 4 (2) and misappropriation as defined in Article 4(3), second subparagraph, of that Directive;.

By way of derogation from paragraph 1 of this Article, disclosure may take place between obliged entities that belong to 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;, or between such entities and their branches and subsidiaries 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;, provided that those branches and subsidiaries fully comply with the group-wide policies and procedures, including procedures for sharing information within 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;, in accordance with Article 16, and that the group-wide policies and procedures comply with the requirements set out in this Regulation.

By way of derogation from paragraph 1 of this Article, disclosure may take place between obliged entities as referred to in Article 3, point (3)(a) and (b), or entities from 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; which impose requirements equivalent to those laid down in this Regulation, who perform their professional activities, whether as employees or not, within the same legal person or a larger structure to which the person belongs and which shares common ownership, management or compliance control, including networks or partnerships.

For obliged entities referred to in Article 3, points (1), (2), (3)(a) and (b), in cases relating to the same transaction involving two or more obliged entities, and by way of derogation from paragraph 1 of this Article, disclosure may take place between the relevant obliged entities provided that they are located in the Union, or with entities 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; which imposes requirements equivalent to those laid down in this Regulation, and that they are subject to professional secrecy and personal data protection requirements.

Where the obliged entities referred to in Article 3, point (3)(a) and (b), seek to dissuade a client from engaging in illegal activity, that shall not constitute disclosure within the meaning of paragraph 1 of this Article.