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Annex I

Financial crimeLevel 1RegulationAMLRIn forceOfficial source

Indicative list of risk variables

The following is a non-exhaustive list of risk variables that obliged entities shall take into account when drawing up their risk assessment in accordance with Article 10 and when determining to what extent to apply customer due diligence measures in accordance with Article 20:

(a)Customer risk variables:

(i)the customer’s and the customer’s beneficial owner’s business or professional activity;

(ii)the customer’s and the customer’s beneficial owner’s reputation;

(iii)the customer’s and the customer’s beneficial owner’s nature and behaviour;

(iv)the jurisdictions in which the customer and the customer’s beneficial owner are based;

(v)the jurisdictions that are the customer’s and the customer’s beneficial owner’s main places of business;

(vi)the jurisdictions to which the customer and the customer’s beneficial owner have relevant personal links;

(b)Product, service or transaction risk variables:

(i)the purpose of an account or relationship;

(ii)the regularity or duration of the business relationship;

(iii)the level of assets to be deposited by a customer or the size of transactions undertaken;

(iv)the level of transparency, or opaqueness, the product, service or transaction affords;

(v)the complexity of the product, service or transaction;

(vi)the value or size of the product, service or transaction;

(c)Delivery channel risk variables:

(i)the extent to which the business relationship is conducted on a non-face-to-face basis;

(ii)the presence of any introducers or intermediaries that the customer might use and the nature of their relationship with the customer;

(d)Risk variable for life and other investment-related insurance:

(i)the risk level presented by the beneficiary of the insurance policy.