I have a question regarding Know Your Customer (KYC) requirements in financial services: Are there specific transaction value thresholds below which KYC procedures are not mandatory? If so, what are these thresholds, and do they vary by jurisdiction or type of financial service??
Hi!
Sorry for delay.
We do not operate in a financial services market, we in retail, however we do know the following
In the European Union (EU), KYC requirements are outlined by the Anti-Money Laundering Directives (AMLD), with transaction thresholds determining when procedures apply:
General Guidance (Subject to change)
€15,000: CDD is required for occasional transactions reaching this amount, whether as a single or linked operation.
E-Money: Simplified KYC applies for instruments storing less than €150, are non-reloadable, or have monthly transaction limits below €150.
Variations by Jurisdiction:
Some countries (e.g., Malta: €10,000, UK: €150 for e-money) impose stricter thresholds.
Exceptions:
Enhanced due diligence applies regardless of transaction value if suspicious activity or inconsistent customer information is detected.
Linked smaller transactions that collectively exceed thresholds also trigger KYC requirements.
Thresholds and rules vary by EU member state, and institutions must monitor both EU-wide and local regulations
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