Guidelines on establishing the wealth of high-net-worth customers
- Articles
- Art. 34(5) AMLR
- Legal basis
- AMLR art. 34(5)
- Expected
- July 10, 2027
- Applies to
- Bank / credit institution, Other financial institution, Mortgage lender / credit intermediary, Investment firm / fund manager, Life insurer / intermediary, Trust or company service provider
A mandate in the AML package that AMLA has scheduled in its Single Programming Document 2026-2028 or announced in a press release. No consultation paper exists yet and no EBA text covers the topic.
What it covers
How credit and financial institutions and trust or company service providers establish whether a customer holds total assets of at least EUR 50 million (excluding the private residence) and how to determine that value, which triggers the enhanced measures of Art. 34(5) for relationships handling at least EUR 5 million. Statutory deadline 10 July 2027; no consultation paper yet, and no EBA guideline exists on this topic.
What it means in practice
Adapt private-banking onboarding and source-of-wealth checks; configure the thresholds in the KYC system.
Versions and what changed
- Consultation papernot yet available
- Final draftnot yet available
- Submitted to the Commissionnot yet available
- Published in the Official Journalnot yet available
Sources
- AMLA - Chair's opening statement to the European Parliament: 40 mandates, 6 submitted, 11 more in 2026 (15 Jul 2026)
- AMLR - Regulation (EU) 2024/1624 (EUR-Lex)
- AMLA - Authority for Anti-Money Laundering
Framework blocks it lands on
This instrument on the dashboard, with the other instruments and the framework: Open on the dashboard