ANNEX III
The following is a non-exhaustive list of factors and types of evidence of potentially higher risk referred to in Article 18(3):
(1) | Customer risk factors: the business relationship is conducted in unusual circumstances; customers that are resident in geographical areas of higher risk as set out in point (3); legal persons or arrangements that are personal asset-holding vehicles; companies that have nominee shareholders or shares in bearer form; businesses that are cash-intensive; the ownership structure of the company appears unusual or excessively complex given the nature of the company's business; |
(2) | Product, service, transaction or delivery channel risk factors: private banking; products or transactions that might favour anonymity; non-face-to-face business relationships or transactions, without certain safeguards, such as electronic signatures; payment received from unknown or unassociated third parties; new products and new business practices, including new delivery mechanism, and the use of new or developing technologies for both new and pre-existing products; |
(3) | Geographical risk factors: without prejudice to Article 9, countries identified by credible sources, such as mutual evaluations, detailed assessment reports or published follow-up reports, as not having effective AML/CFT systems; countries identified by credible sources as having significant levels of corruption or other criminal activity; countries subject to sanctions, embargos or similar measures issued by, for example, the Union or the United Nations; countries providing funding or support for terrorist activities, or that have designated terrorist organisations operating within their country. |