Annex II
Financial crimeLevel 1RegulationAMLRStage: AdoptedOfficial source
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)(a)
(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;
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(c)customers that are resident in geographical areas of lower risk as set out in point (3);
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(b)insurance policies for pension schemes if there is no early surrender option and the policy cannot be used as collateral;
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(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;
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(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;
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(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);
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(c)third countries identified by credible sources as having a low level of corruption or other criminal activity;
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(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.
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