Increased Risks Of Money Laundering Or Terrorism Financing According To The Balance Sheet Accounting Law (Gtv-Bibug)

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

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428. Regulation of the Federal Minister for Economic Affairs, Family and Youth on increased risks of money laundering or terrorist financing in accordance with the Accounting Accounting Act (GTV-BibuG)

On the basis of § 79e (1) of the Accounting Accounting Act, BGBl. I n ° 161/2006, as last amended by the Federal Law BGBl. I No 32/2012, 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'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 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 in which, in any event, there is an increased risk of money laundering or terrorist financing

, are:

1.

Islamic Republic of Iran,

2.

Democratic People's Republic of Korea

3.

Plurinational State of Bolivia,

4.

Republic of Cuba,

5.

Democratic Federal Republic of Ethiopia,

6.

Republic of Ecuador,

7.

Republic of Ghana,

8.

Republic of Indonesia,

9.

Republic of Yemen,

10.

Republic of Kenya,

11.

Republic of the Union of Myanmar,

12.

Federal Republic of Nigeria,

13.

Islamic Republic of Pakistan,

14.

Democratic Republic of São Tomé and Príncipe,

15.

Democratic Socialist Republic of Sri Lanka,

16.

Arab Republic of Syria,

17.

United Republic of Tanzania,

18.

Kingdom of Thailand,

19.

Republic of Turkey and

20.

Socialist Republic of Vietnam.

entry into force

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

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