Section 3: Customer due diligence obligations

I.-The persons referred to in Article L. 561-2 shall define and implement procedures enabling them to determine whether the transaction they are carrying out is one of those referred to in 3° of Article L. 561-10. II.When they carry out the operation referred to in I, the persons referred to in Article L. 561-2 apply: 1° The following additional due diligence measures, the intensity of which varies according to a…

The orders referred to in Article L. 561-11 shall provide for at least one of the following measures: 1° Prohibiting the establishment in France of subsidiaries, branches or representative offices of persons equivalent to those mentioned in Article L. 561-2 domiciled, registered or established in the State or territory mentioned in 3° of Article L. 561-10 or otherwise take account of the fact that the person concerned is from a…

For the application of II of Article L. 561-10-3, the persons mentioned in 1° to 1°c and 5° to 6°a of Article L. 561-2 shall implement the following specific due diligence measures, the intensity of which shall vary according to a risk-based approach: 1° They shall collect sufficient information on the contracting institution to know the nature of its activities and to assess, on the basis of publicly available and…

The results of the enhanced examination prescribed in Article L. 561-10-2 are recorded in writing and kept in accordance with the procedures set out in Article L. 561-12.

For the application of Articles L. 561-7, L. 561-20, 3° of Article R. 561-5-2, 2° of Article R. 561-5-3 and Article R. 561-9, the persons mentioned in Article L. 561-2 concerned shall assess the level of equivalence of a third country’s anti-money laundering and terrorist financing obligations, taking into account in particular the information and declarations disseminated by the Financial Action Task Force and the lists published by the European…