Key Benefits:
90. Ordination of the Federal Minister for Science, Research and the Economy on increased risks of money laundering or terrorist financing in accordance with the Industrial Regulations 1994 (GTV-GewO 2014)
On the basis of § 365s (5) of the Commercial Code 1994, BGBl. I n ° 194/1994, as last amended by the Federal Law, BGBl. I n ° 125/2013 and the BGBl, the customer. I No 212/2013 shall be prescribed:
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 is domicated or domicated in one of the States referred to in paragraph 2; or |
|||||||||
| 3. |
a person to which the customer has an essential business relationship has his residence or registered office in one of the States listed in paragraph 2, or |
|||||||||
| 4. |
the trustee or the beneficial owner has his residence or registered office in one of the States listed in paragraph 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 presentation in the Federal Law Gazan; at the same time, the Regulation of the Federal Minister for Economic Affairs, Family and Youth on increased risks of money laundering or terrorist financing shall enter into force. Trade order 1994 (GTV-GewO), BGBl. II No 427/2012, except for force.
Mitterlehner
