377 regulation of the financial market authority (FMA) on more cases of increased money laundering or terrorism financing risk (money laundering and terrorism financing risk regulation - GTV)
On the basis of § 40b para. 1 of the law on banking - Banking Act, Federal Law Gazette No. 532/1993, as last amended by Federal Law Gazette I no. 77/2011, and 98d para 1 of the insurance supervision Act - VAG, BGBl. No. 569/1978, as last amended by Federal Law Gazette I no. 77/2011, with the consent of the Federal Minister of finance prescribed:
Scope of application
§ 1. This regulation more cases of increased risk of money laundering or terrorist financing lays down BWG and section 98d paragraph 1 VAG b paragraph 1 in the sense of § 40, where enhanced due diligence and monitoring obligations apply are.
Increased risk of money laundering or terrorist financing
§ 2 (1) a higher risk of money laundering or terrorism financing exists, if 1 a) the customer or b) for him within the meaning of section 40 para 1 Banking Act or § 98 b paragraph 1 VAG-representation-authorised person or c) a person to which the customer maintains a substantial business relationship, domicile or seat in a which has countries listed in paragraph 2 2. the settlor or the beneficial owner has his domicile or seat in one of the States listed in paragraph 2 or 3 an account handled the transaction through which is decorated with a credit institution in one of the States listed in paragraph 2.
(2) States that in any case where an increased risk of money laundering or terrorism 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 Kenya, 7 Republic of the Union of Myanmar, 8 Federal Republic of Nigeria, 9 Democratic Republic São Tomé and Príncipe, 10 Democratic Socialist Republic of Sri Lanka, 11 Syrian Arab Republic and 12 Republic of Turkey.
Entry into force
§ 3. This Regulation shall enter into force December 31, 2011.