The threshold mentioned in the second paragraph of Article L. 561-13 is set at 2,000 euros per session. The threshold referred to in the third paragraph of Article L. 561-13 is set at €2,000 per session for gaming clubs and €2,000 per transaction for other groups and companies organising games of money and chance and sports or horse betting.
For the application of III of Article L. 561-5, the persons mentioned in 2° to 2°e and 3°a of Article L. 561-2 shall identify and verify the identity of the beneficiaries of life insurance or capitalisation contracts and, where applicable, their beneficial owners, where the annual premium exceeds the thresholds set for these contracts in 1° of Article R. 561-16, under the following conditions: 1° Where the beneficiaries of the…
When the persons mentioned in Article L. 561-2 have good reason to believe that the identity of their customer and the identification details previously obtained are no longer accurate or relevant, they shall again identify the customer and verify his identity in accordance with Articles R. 561-5 and R. 561-5-1 and, where applicable, identify and verify the identity of his beneficial owner in accordance with Article R. 561-7.
In the event of the transfer of a life insurance or capitalisation contract to a third party, the persons mentioned in 2° to 2°e and 3°a of Article L. 561-2, when they take note of the transfer or, where applicable, when they are notified of the transfer, shall identify and verify the identity of the person to whom the contract is transferred and, where applicable, of the latter’s beneficial owner,…
For the application of Article L. 561-5-1, the persons mentioned in Article L. 561-2 shall: 1° Before entering into a business relationship, collect and analyse the information necessary to understand the purpose and nature of the business relationship; 2° Throughout the duration of the business relationship, collect, update and analyse the information necessary to maintain appropriate and up-to-date knowledge of their business relationship. The nature and extent of the information…
For the application of Article L. 561-6, the persons mentioned in Article L. 561-2 shall implement measures to ensure that the transactions carried out in respect of a business relationship are consistent with the knowledge of this business relationship updated in accordance with Article R. 561-12. In particular, these measures must make it possible to ensure that the transactions carried out are consistent with the customer’s professional activities, the risk…
The third party referred to in Article L. 561-7 shall forward without delay to the persons referred to in 1° to 6° of Article L. 561-2 the information gathered in connection with the implementation of the due diligence measures provided for in I and III of Article L. 561-5 and in Article L. 561-5-1 and, on first request, a copy of the relevant documents. The procedures for transmitting the information…
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°…
Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call us at +33 (0) 1 84 88 31 00 or send us an email.
is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
Resources
is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
Useful links
Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call +33 (0) 1 84 88 31 00 or send us an email.
All information exchanged through this website will be communicated to lawyers registered with a French Bar and will remain confidential.
