Section 3: Customer due diligence obligations

I. – When the risk of money laundering and terrorist financing presented by a business relationship, product or transaction appears to them to be high, the persons mentioned in Article L. 561-2 shall implement the provisions of Articles L. 561-5, L. 561-5-1 and L. 561-6 in the form of enhanced due diligence measures. II. – The implementation of the additional vigilance measures provided for in Article L. 561-10 shall not…

The persons referred to in Article L. 561-2 shall carry out an enhanced review of any transaction that is particularly complex or involves an unusually large amount or does not appear to have any economic justification or lawful purpose. In such cases, these persons shall enquire of the customer as to the origin of the funds and the destination of these sums, as well as the purpose of the transaction…

I.-When a person mentioned in 1° to 1°c or 5° to 6°a of Article L. 561-2 has a cross-border correspondent relationship with a financial institution located in a country that is not a member of the European Union or a party to the Agreement on the European Economic Area, or a relationship with a view to carrying out securities transactions or transfers of funds, the reporting entity shall implement vis-à-vis…

I.-In accordance with the conditions laid down by decree in the Conseil d’Etat, the Minister for the Economy shall adopt measures aimed at imposing specific conditions, restricting or prohibiting the activity, or all or part of the business relationships and transactions carried out on their own behalf or on behalf of third parties, of the persons mentioned in Article L. 561-2 with natural or legal persons, including their subsidiaries or…

Subject to more stringent provisions, the persons referred to in Article L. 561-2 shall keep, for a period of five years from the closure of their accounts or the termination of their relations with them, the documents and information, in whatever medium, relating to their business relations or occasional customers, as well as the due diligence measures implemented. They shall also keep, within the limits of their remit, for a…

The persons mentioned in 9° and 9° bis of Article L. 561-2 shall record the exchange of all forms of payment, plates, tokens and tickets where the amount exceeds a certain threshold. The procedures for applying this article shall be laid down by decree.

The persons mentioned in 1° to 7° bis of Article L. 561-2 do not keep anonymous accounts or savings books.

The provisions of the second paragraph of Article 537 of the General Tax Code do not prevent the application of Article L. 561-5 of this Code. However, the information referred to in the latter article shall be recorded in a register separate from that instituted by article 537 of the General Tax Code. Where the customer has not authorised the financial institution to disclose his identity and tax domicile to…