ANNEX II AMLR – Lower risk factors
The following is a non-exhaustive list of factors and types of evidence of potentially lower risk referred to in Article 20:
| (1) | Customer risk factors:(a)public companies listed on a stock exchange and subject to disclosure requirements (either by stock exchange rules or through law or enforceable means), which impose requirements to ensure adequate transparency of beneficial ownership;(b)public administrations or enterprises;(c)customers that are resident in geographical areas of lower risk as set out in point (3); |
| (2) | Product, service, transaction or delivery channel risk factors:(a)life insurance policies for which the premium is low;(b)insurance policies for pension schemes if there is no early surrender option and the policy cannot be used as collateral;(c)a pension, superannuation or similar scheme that provides retirement benefits to employees, where contributions are made by way of deduction from wages, and the scheme rules do not permit the assignment of a member’s interest under the scheme;(d)financial products or services that provide appropriately defined and limited services to certain types of customers, so as to increase access for financial inclusion purposes;(e)products where the risks of money laundering and terrorist financing are managed by other factors such as purse limits or transparency of ownership (e.g. certain types of electronic money); |
| (3) | Geographical risk factors — registration, establishment, residence in:(a)Member States;(b)third countries having effective AML/CFT systems;(c)third countries identified by credible sources as having a low level of corruption or other criminal activity;(d)third countries which, on the basis of credible sources such as mutual evaluations, detailed assessment reports or published follow-up reports, have requirements to combat money laundering and terrorist financing consistent with the revised FATF Recommendations and effectively implement those requirements. |