Is the implication then that if I sell lemonade out on the street and you give me cash for one that my funds should be seized because I don't know the provenance of the cash?
If the transaction value at your lemonade stand exceeds €10,000, then in the EU, you are required to verify the identity of the beneficial owner of the funds, thanks to AML5.
Comments
Is the implication then that if I sell lemonade out on the street and you give me cash for one that my funds should be seized because I don't know the provenance of the cash?
If the transaction value at your lemonade stand exceeds €10,000, then in the EU, you are required to verify the identity of the beneficial owner of the funds, thanks to AML5.