428th Ordinance of the Federal Minister for economy, family and youth about increased risks of money laundering or terrorism financing according to the balance sheet accounting law (GTV-BibuG)
Due to section 79e para 1 of the balance sheet accounting law, Federal Law Gazette I no. 161/2006, as last amended by the Federal Act Federal Law Gazette I no. 32/2012, 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, 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. Cuba, 5. Democratic Federal Republic of Ethiopia, 6 Republic of Ecuador, 7 Republic of Ghana, 8 Republic Indonesia, 9 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 São Tomé and Príncipe, 15 Democratic Socialist Republic of Sri Lanka , 16 Arab Republic 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 the day of its proclamation.