High Risks Countries pursuant to FATF Public Statement, October 2016

AMLO is to call on financial institutions and persons engaging in professions under Section 16 (1) and (9) of the Anti-Money Laundering Act, 1999 to take into strict consideration risk factors for customers and shall designate as a high-risk customer and also apply enhanced CDD measures in the following cases:

(1) Customer resides either temporarily or permanently;

(2) Customer engages in an occupation;

(3) Customer has an income source from or;

(4) Conducts transaction

Each case described above is in a geographical area or country which has been notified as an area or country with a high risk of money laundering and terrorist financing.

List of High Risks Countries in accordance with FATF Public Statement and On-Going Process (As of October 2016)