Three rules cover 90% of day-to-day cases: cash (€10,000), splitting and business customers (UBOs). The quick check below immediately shows what to do for the deal. Find details and examples in the KYC article.
Rule 1
Cash of €10,000 or more: complete KYC before handover.
Rule 2
Splitting or installments: the total amount counts.
Rule 3
Business or authorization: verify representation and the UBO.
Note: General information only, not legal or tax advice for an individual case.
Select a situation to show the relevant tasks and rules automatically. With no selection, all rules are displayed.
Result
Rules shown: 5
What to do
Note: Suspicion does not depend on the amount. Escalate unusual circumstances internally and document them.
A concise overview. For background and examples, read the KYC article.
Requirement
Cash accepted or paid out totaling at least €10,000, including installments.
What to do
Common mistake
Mistake: waiting to identify the party until the “final installment” arrives. KYC must begin earlier.
Requirement
Multiple cash payments, multiple payers or transactions close in time with a recognizable connection.
What to do
Common mistake
Mistake: treating “2 × €9,000” as two separate transactions.
Requirement
The buyer or seller is a business, or a third party acts or pays on behalf of a contracting party.
What to do
Common mistake
Mistake: knowing only the managing director without checking the UBO or authority to represent.
Requirement
Unusual circumstances, regardless of the amount or payment method.
What to do
Common mistake
Mistake: recording only a “strange feeling” without evidence, or communicating the internal review to the customer.
Requirement
KYC records are not the same as invoices or tax documents.
What to do
Common mistake
Mistake: storing everything in one folder without a deletion policy, creating a compliance risk.
Once your KYC process is in place, documentation and archiving are the next typical audit priorities. These are the key resources.
When it accepts or pays out cash totaling at least €10,000, including economically linked partial payments.
Find more details in the KYC article .
It is the division of one economically connected payment into several cash amounts. If a connection is recognizable, the total amount is decisive.
Find more details in the KYC article .
Verify register details, authority to represent the business and the ultimate beneficial owner (UBO). Always identify the person appearing separately.
Find more details in the KYC article .
The detailed KYC article covers thresholds, splitting cases, UBO logic, goAML, retention and deletion.
Find more details in the KYC article .