Increased Risks Of Money Laundering Or Terrorist Financing Under The Balance Sheet Accounting Act 2014 (Gtv Bibug 2014)

Original Language Title: Erhöhte Risiken der Geldwäsche oder Terrorismusfinanzierung nach dem Bilanzbuchhaltungsgesetz 2014 (GTV-BibuG 2014)

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91. Ordination of the Federal Minister for Science, Research and the Economy on increased risks of money laundering or terrorist financing according to the Accounting Accounting Act 2014 (GTV-BibuG 2014)

On the basis of § 47 (1) of the Accounting Accounting Act 2014, BGBl. I No 191/2013, shall be ordered:

Increased risk of money laundering or terrorist financing

§ 1. (1) There is an increased risk of money laundering or terrorist financing if:

1.

the customer has his residence or registered office in one of the States listed in paragraph 2, or

2.

the person authorised to represent the client's place of residence or registered office in one of the persons referred to in paragraph 2

, or

3.

a person to which the customer has a substantial business relationship, his residence

or has its registered office in one of the States referred to in paragraph 2, or

4.

the trustee or the beneficial owner is domicated or domicated in one of the

(2), or

5.

the transaction is carried out through an account set up at a credit institution in one of the countries listed in paragraph 2.

(2) States where there is at least an increased risk of money laundering or terrorist financing are:

1.

Islamic Republic of Iran,

2.

Democratic People's Republic of Korea

3.

Democratic People's Republic of Algeria

4.

Republic of Ecuador,

5.

Democratic Federal Republic of Ethiopia,

6.

Republic of Indonesia,

7.

Republic of the Union of Myanmar,

8.

Islamic Republic of Pakistan,

9.

Arab Republic of Syria,

10.

Republic of Turkey,

11.

Republic of Yemen and

12.

Republic of Somalia.

entry into force

§ 2. This Regulation shall enter into force at the end of the day of its operation.

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