Increased Risks Of Money Laundering Or Terrorist Financing After The Economic Trust Vocational Act (Gtv Wtbg 2014)

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

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89. Ordination of the Federal Minister for Science, Research and the Economy on increased risks of money laundering or terrorist financing according to the Economic Scattering Trade Act Law (GTV-WTBG 2014)

On the basis of § 98e paragraph 1 of the Economic Scattering Trade Act, BGBl. I n ° 58/1999, as last amended by the Federal Law BGBl. I No 121/2013, shall be arranged:

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 operation.

Override

§ 3. With the entry into force of this Regulation, 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 in accordance with the Economic Scatter Trade Act Law (GTV-WTBG), BGBl. II No 426/2012, except for force.

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