Recital 68

(68) The customer due diligence process is not limited to the identification and verification of the customer’s identity. Before entering into business relationships or carrying out occasional transactions, obliged entities should also assess the purpose and nature of a business relationship or occasional transaction. Pre-contractual or other information about the proposed product or service that is communicated to the prospective customer can contribute to the understanding of that purpose. Obliged entities should always be able to assess the purpose and nature of a prospective business relationship or occasional transaction in an unambiguous manner. Where the offered service or product enables customers to carry out various types of transactions or activities, obliged entities should obtain sufficient information on the intention of the customer regarding the use to be made of that relationship.

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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.