Recital 49

(49) Products such as customer screening offered by third-party providers support obliged entities in the performance of customer due diligence. Such products provide them with a holistic view over the customer, which enables them to make informed decisions as to their risk classification, mitigating measures to be applied and possible suspicions regarding the customers’ activities. Those products also contribute to the work of competent authorities in the analysis of suspicious transactions and investigations into potential cases of money laundering, its predicate offences and terrorist financing by complementing information on beneficial ownership with other technical solutions that enable competent authorities to have a broader view of complex criminal schemes, including through the localisation of perpetrators. They therefore play a critical role in tracing the increasingly complex and fast movements that characterise money laundering schemes. By virtue of their well-established function in the compliance infrastructure, it is justified to consider that providers offering those products hold a legitimate interest in accessing information held in the central registers, provided that the data obtained from the register are offered only to obliged entities and competent authorities in the Union for the performance of tasks related to preventing and fighting money laundering, its predicate offences and terrorist financing.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.