Banks must have sufficient and up-to-date information on, among other things, the customer’s activities, financial position and the origin of the funds. If necessary, banks must also ascertain the origin and purpose of funds related to an individual transaction or the withdrawal or deposit of funds.
Banks must determine themselves the situations or the criteria on the basis of which the customer will be asked to clarify the origin and purpose of funds. Neither the Financial Supervisory Authority nor the legislator has issued a regulation on how large a cash withdrawal or cash deposit should be to initiate an enquiry related to the origin of funds; each bank determines such criteria itself.