An organization legally required to implement anti-money laundering controls, including customer due diligence and suspicious transaction reporting.
An AML Obliged Entity is an organization that is legally required to implement anti-money laundering (AML) controls under applicable regulations. These controls include Customer Due Diligence (CDD), ongoing monitoring, and suspicious transaction reporting.
Under EU Anti-Money Laundering Directives (AMLD) and the upcoming AML Regulation (AMLR), obliged entities include banks, payment institutions, crypto-asset service providers, real estate agents, and certain professional services firms.
Obliged entities retain full CDD liability regardless of whether they use third-party verification services.
Know Your Customer (KYC) and Customer Due Diligence (CDD) are regulatory requirements for financial institutions to verify customer identities and assess risk.
