Subsection 8: Obligations in the event of a low risk of money laundering or terrorist financing

In order to implement the simplified due diligence measures provided for in Article L. 561-9, the persons mentioned in Article L. 561-2 shall collect information justifying that the customer, service or product presents a low risk of money laundering or terrorist financing or meets the conditions provided for in Articles R. 561-15 or R. 561-16. They shall ensure throughout the business relationship that the risk of money laundering or terrorist…

Where they choose to implement simplified due diligence measures pursuant to 1° of Article L. 561-9, the persons mentioned in Article L. 561-2 : 1° Shall identify and verify the identity of their customer in accor dance with the procedures set out in Articles R. 561-5 and R. 561-5-1 and shall identify and verify the identity of the beneficial owner i n accordance with the procedures set out in Article…

I. – Electronic money issuers referred to in 1°, 1° ter and 1° quater of Article L. 561-2 may defer verification of the identity of their customer and, where applicable, of the customer’s beneficial owner, where the following conditions are met: 1° There is no suspicion of money laundering or terrorist financing ; 2° The customer may not hold another instrument of the same type from the same issuer; 3°…

I. – To implement the simplified due diligence measures provided for in 2° of Article L. 561-9, the persons mentioned in Article L. 561-2 shall implement the measures for identifying the customer and the beneficial owner in accordance with the procedures provided for in Article R. 561-5, as well as the measures provided for in Article R. 561-14. II. – For the contracts mentioned in 1° of Article R. 561-16,…

The customers referred to in 2° of Article L. 561-9 are: 1° The persons referred to in 1° to 6° bis of Article L. 561-2 established in France, in another Member State of the European Union or in a State party to the Agreement on the European Economic Area; 2° Companies whose securities are admitted to trading on a regulated market in France, in another Member State of the European…

The products and services referred to in 2° of Article L. 561-9 are : 1° Life insurance or capitalisation contracts where the annual premium does not exceed €1,000 or where the single premium does not exceed €2,500; 2° Insurance contracts that do not relate to life and death or marriage and childbirth and are not linked to investment funds, do not fall within the scope of operations involving the formation…

With regard to their activities relating to electronic money, the persons mentioned in Article L. 561-9-1 are not subject to the due diligence requirements set out in Articles L. 561-5 and L. 561-5-1 if the following conditions are met: 1° Electronic money is issued for the sole purpose of acquiring consumer goods or services. In particular, it may not be used to purchase digital assets; 2° The maximum monetary value…

The persons mentioned in 1° to 1°c of Article L. 561-2, acting as acquirers within the meaning of EU Regulation 2015/751 of the European Parliament and of the Council of 29 April 2015, shall only accept a payment made by means of electronic money usable on a physical medium issued in a third country and whose holder is not identified, nor his identity verified, under the conditions provided for respectively…