R EPORTING AND RECORD KEEPING

For the purposes of reporting obligations under Article 33 of Directive (EU) 2015/849, credit and financial institutions should set out in their policies and procedures the criteria that will be used to determine the reasonable grounds on which they would suspect that ML/TF is taking place or is being attempted.

Credit and financial institutions should document any decision to refuse or terminate a business relationship and the reason for doing so, and should be prepared to make this documentation available to their competent authority upon request.