91. Regulation of the Federal Minister for science, research and industry about increased risks of money laundering or terrorist financing under the balance sheet accounting Act 2014 (GTV BibuG 2014)
On the basis of § 47 para 1 of the balance sheet accounting Act 2014, Federal Law Gazette I no. 191/2013, is prescribed:
Increased risk of money laundering or terrorist financing
§ 1 (1) an increased risk of money laundering or terrorist financing is, if 1 the customer is a resident or based in one which has countries listed in paragraph 2 or 2nd which has representation-authorised person domiciled or established in one of the States listed in paragraph 2 for the customer or 3rd person to which the customer maintains a significant business relationship, his domicile or seat in a which has countries listed in paragraph 2 or 4 of the trustor or the economic Owner his domicile or seat in one which has countries listed in paragraph 2 or 5 an account handled the transaction, is decorated with a credit institution in one of the States listed in paragraph 2.
(2) States that in any case where an increased risk of money laundering or terrorism financing, are: 1. Islamic Republic of Iran, 2. Democratic People's Republic of Korea, 3. Democratic People's Republic Algeria, 4. Republic of Ecuador, 5. Democratic Federal Republic of Ethiopia, 6 Indonesia, 7 Republic of the Union of Myanmar, 8 Islamic Republic of Pakistan, 9 Arab Republic Syria, 10 Republic of Turkey, 11 Republic of Yemen and 12 Somali Republic.
Entry into force
§ 2. This Regulation shall enter into force the day of its proclamation.