> For the complete documentation index, see [llms.txt](https://www.mica.wtf/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://www.mica.wtf/amlr/chapter-iii-customer-due-diligence-art.-19-50/23.md).

# Art. 23 — Timing of the verification of the customer and beneficial owner identity

AMLR Article 23 — Timing of the verification of the customer and beneficial owner identity. Regulation (EU) 2024/1624, Chapter III — Customer due diligence.

1. Verification of the identity of the customer, the beneficial owner, and of any persons pursuant to [Article 20(1)](/amlr/chapter-iii-customer-due-diligence-art.-19-50/20.md), points (h) and (i), shall take place before the establishment of a business relationship or the carrying out of an occasional transaction. Such obligation shall not apply to situations of lower risk under Section 3 of this Chapter, provided that the lower risk justifies postponement of such verification.

   For real estate agents, the verification referred to in the first subparagraph shall be carried out after an offer is accepted by the seller or lessor, and in all cases before any funds or property are transferred.
2. By way of derogation from paragraph 1, verification of the identity of the customer and of the beneficial owner may be completed during the establishment of a business relationship if necessary so as not to interrupt the normal conduct of business and where there is little risk of money laundering or terrorist financing. In such situations, those procedures shall be completed as soon as practicable after initial contact.
3. By way of derogation from paragraph 1 of this Article, a credit institution or financial institution may open an account, including accounts that permit transactions in transferable securities, as may be required by a customer provided that there are adequate safeguards in place to ensure that transactions are not carried out by the customer or on its behalf until full compliance with the customer due diligence measures laid down in [Article 20(1)](/amlr/chapter-iii-customer-due-diligence-art.-19-50/20.md), points (a) and (b), is obtained.
4. Whenever entering into a new business relationship with a legal entity or the trustee of an express trust or the person holding an equivalent position in a similar legal arrangement referred to in [Articles 51](/amlr/chapter-iv-beneficial-ownership-transparency-art.-51-68/51.md), [57](/amlr/chapter-iv-beneficial-ownership-transparency-art.-51-68/57.md), [58](/amlr/chapter-iv-beneficial-ownership-transparency-art.-51-68/58.md), [61](/amlr/chapter-iv-beneficial-ownership-transparency-art.-51-68/61.md) and [67](/amlr/chapter-iv-beneficial-ownership-transparency-art.-51-68/67.md) and subject to the registration of beneficial ownership information pursuant to Article 10 of Directive (EU) 2024/1640, obliged entities shall collect valid proof of registration or a recently issued excerpt of the register confirming validity of registration.


---

# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.

## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter:

```
GET https://www.mica.wtf/amlr/chapter-iii-customer-due-diligence-art.-19-50/23.md?ask=<question>&goal=<endgoal>
```

`ask` is the immediate question: it should be specific, self-contained, and written in natural language.
`goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal.

The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.