Art. 18 Identification of the purpose and intended nature of a business relationship or occasional transaction | RTS on customer due diligence | AML

For the purposes of Article 20(1), point (c), and Article 25 of Regulation (EU) 2024/1624, obliged entities shall obtain, where necessary:
1. in relation to the purpose and economic rationale of the occasional transaction or business relationshipmeans a business, professional or commercial relationship connected with the professional activities of an obliged entity, which is set up between an obliged entity and a customer, including in the absence of a written contract and which is expected to have, at the time when the contact is established, or which subsequently acquires, an element of repetition or duration;, taking into account the nature of the product or service provided, at least one of the following information:
  the reason the customer has requested the obliged entities’ products or services;
  the intended use of the products or services requested by the customer;
  the reason for performing the occasional transaction;
  whether the customer has additional business relationshipsmeans a business, professional or commercial relationship connected with the professional activities of an obliged entity, which is set up between an obliged entity and a customer, including in the absence of a written contract and which is expected to have, at the time when the contact is established, or which subsequently acquires, an element of repetition or duration; with the obliged entity or, where applicable, its wider 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;, and the extent to which that information influences the obliged entity’s understanding of the customer.
2. in relation to the estimated amount of the envisaged activities, at least one of the following information:
  the estimated amount of fundsor ‘property’ means property as defined in Article 2, point (2), of Directive (EU) 2018/1673; to be deposited;
  the estimated amount of fundsor ‘property’ means property as defined in Article 2, point (2), of Directive (EU) 2018/1673; to be used in connection with the product offered or service provided;
  information to understand the anticipated type and frequency of activities that are likely to be performed during the business relationshipmeans a business, professional or commercial relationship connected with the professional activities of an obliged entity, which is set up between an obliged entity and a customer, including in the absence of a written contract and which is expected to have, at the time when the contact is established, or which subsequently acquires, an element of repetition or duration; or occasional transaction;
  information to understand the anticipated number, size, volume, type and frequency of transactions that are likely to be performed during the business relationshipmeans a business, professional or commercial relationship connected with the professional activities of an obliged entity, which is set up between an obliged entity and a customer, including in the absence of a written contract and which is expected to have, at the time when the contact is established, or which subsequently acquires, an element of repetition or duration; or occasional transaction.
3. in relation to the source of fundsor ‘property’ means property as defined in Article 2, point (2), of Directive (EU) 2018/1673;, at least one of the following information to understand the activity that generated the fundsor ‘property’ means property as defined in Article 2, point (2), of Directive (EU) 2018/1673; and the means through which the customer’s fundsor ‘property’ means property as defined in Article 2, point (2), of Directive (EU) 2018/1673; were transferred:
  employment income, including salary, wages, bonusses and other compensation from employment;
  pension or retirement fundsor ‘property’ means property as defined in Article 2, point (2), of Directive (EU) 2018/1673; and government benefits including social benefits;
  grants;
  business revenue;
  capital provided by shareholders and intercompany funding;
  loans and credit facilities;
  savings and investments income;
  inheritance, gifts, sales of assets and legal settlements.
4. in relation to the destination of fundsor ‘property’ means property as defined in Article 2, point (2), of Directive (EU) 2018/1673;, at least one of the following information:
  the expected types of recipient(s);
  the jurisdiction where the transactions are to be received;
  whether the recipient of fundsor ‘property’ means property as defined in Article 2, point (2), of Directive (EU) 2018/1673; is the intended beneficiary of the transferred fundsor ‘property’ means property as defined in Article 2, point (2), of Directive (EU) 2018/1673;, or acting as intermediary for the beneficiary.
5. in relation to the business activity or the occupation of the customer, at least one of the following information:
  the occupation of the customer, including information on the customer’s employment status;
  the sector in which the customer is active, including information on customer’s industry, operations, products and services;
  whether the business activity or the occupation of the customer is regulated;
  whether the customer is an obliged entity and the sector in which the customer operates;
  whether the customer is actively engaged in business;
  geographical presence of the customer;
  information on the main sources of revenues of the customer;
  key stakeholders of the customer.