guideline on anti-money laundering and the combating of terrorist ...
guideline on anti-money laundering and the combating of terrorist ...
guideline on anti-money laundering and the combating of terrorist ...
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Guideline <strong>on</strong> Anti-M<strong>on</strong>ey Laundering <strong>and</strong> <strong>the</strong> Combating <strong>of</strong> Terrorist Financing(9) The deposit or withdrawal <strong>of</strong> multiple m<strong>on</strong>etary instruments at amounts which fall c<strong>on</strong>sistently just belowidentificati<strong>on</strong> or reporting thresholds, particularly if <strong>the</strong> instruments are sequentially numbered.C. Wire Transfers(1) Wire transfers ordered in small amounts in an apparent effort to avoid triggering identificati<strong>on</strong> or reportingrequirements.(2) Wire transfers to or for an individual where informati<strong>on</strong> <strong>on</strong> <strong>the</strong> originator, or <strong>the</strong> pers<strong>on</strong> <strong>on</strong> whose behalf <strong>the</strong>transacti<strong>on</strong> is c<strong>on</strong>ducted, is not provided with <strong>the</strong> wire transfer, when <strong>the</strong> inclusi<strong>on</strong> <strong>of</strong> such informati<strong>on</strong> wouldbe expected.(3) Use <strong>of</strong> multiple pers<strong>on</strong>al <strong>and</strong> business accounts or <strong>the</strong> accounts <strong>of</strong> n<strong>on</strong>-pr<strong>of</strong>it organisati<strong>on</strong>s or charities tocollect <strong>and</strong> <strong>the</strong>n funnel funds immediately or after a short time to a small number <strong>of</strong> foreign beneficiaries.(4) Foreign exchange transacti<strong>on</strong>s that are performed <strong>on</strong> behalf <strong>of</strong> a customer by a third party followed by wiretransfers <strong>of</strong> <strong>the</strong> funds to locati<strong>on</strong>s having no apparent business c<strong>on</strong>necti<strong>on</strong> with <strong>the</strong> customer or to countries<strong>of</strong> specific c<strong>on</strong>cern.D. Characteristics <strong>of</strong> <strong>the</strong> customer or his/ her business activity(1) Funds generated by a business owned by individuals <strong>of</strong> <strong>the</strong> same origin or involvement <strong>of</strong> multiple individuals<strong>of</strong> <strong>the</strong> same origin from countries <strong>of</strong> specific c<strong>on</strong>cern acting <strong>on</strong> behalf <strong>of</strong> similar business types.(2) Shared address for individuals involved in cash transacti<strong>on</strong>s, particularly when <strong>the</strong> address is also a businesslocati<strong>on</strong> <strong>and</strong>/or does not seem to corresp<strong>on</strong>d to <strong>the</strong> stated occupati<strong>on</strong> (for example student, unemployed,self-employed, etc.).(3) Stated occupati<strong>on</strong> <strong>of</strong> <strong>the</strong> transactor is not commensurate with <strong>the</strong> level or type <strong>of</strong> activity (for example, astudent or an unemployed individual who receives or sends large numbers <strong>of</strong> wire transfers, or who makesdaily maximum cash withdrawals at multiple locati<strong>on</strong>s over a wide geographic area).(4) Regarding n<strong>on</strong>-pr<strong>of</strong>it or charitable organisati<strong>on</strong>s, financial transacti<strong>on</strong>s for which <strong>the</strong>re appears to be nological ec<strong>on</strong>omic purpose or in which <strong>the</strong>re appears to be no link between <strong>the</strong> stated activity <strong>of</strong> <strong>the</strong>organisati<strong>on</strong> <strong>and</strong> <strong>the</strong> o<strong>the</strong>r parties in <strong>the</strong> transacti<strong>on</strong>.Page 67 <strong>of</strong> 75
Change language