Response to consultation on effective management of ML/TF risks when providing access to financial services
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a) customer(s) incriminated by law enforcement for organized crime (national or transnational in nature), serious predicate offences (in terms of frequency, duration or economic impact) or for attempted /aided or executed terrorist act - detained or on the run from criminal prosecution
b) customer(s) convicted for organized crime (national or transnational in nature), serious predicate offences (in terms of frequency, duration or economic impact) or for attempted /aided or executed terrorist act - imprisoned or on the run from serving a prison sentence
c) customer(s) convicted for organized crime (national or transnational in nature), serious predicate offences (in terms of frequency, duration or economic impact) or for attempted /aided or executed terrorist act - who served a prison sentence but have not yet been rehabilitated subject to provisions of the national law
In case of countries struggling with widespread corruption and high level of social tolerance for corruption, authorities, law enforcement and judiciary may not provide effective response to suspected or committed crime and MLTF predicate offences, especially when it seems to be connected with high profile PEPs and entities influenced by PEPs.
a) customer(s) incriminated by law enforcement for organized crime (national or transnational in nature), serious predicate offences (in terms of frequency, duration or economic impact) or for attempted /aided or executed terrorist act
b) customer(s) convicted for organized crime (national or transnational in nature), serious predicate offences (in terms of frequency, duration or economic impact) or for attempted /aided or executed terrorist act - imprisoned or on the run from criminal prosecution or from serving a prison sentence
c) customer(s) convicted for organized crime (national or transnational in nature), serious predicate offences (in terms of frequency, duration or economic impact) or for attempted /aided or executed terrorist act - who served a prison sentence but have yet not been rehabilitated subject to provisions of the national law
a) customer(s) incriminated by law enforcement for organized crime (national or transnational in nature), serious predicate offences (in terms of frequency, duration or economic impact) or for attempted /aided or executed terrorist act
b) customer(s) convicted for organized crime (national or transnational in nature), serious predicate offences (in terms of frequency, duration or economic impact) or for attempted /aided or executed terrorist act - imprisoned or on the run from criminal prosecution or from serving a prison sentence
c) customer(s) convicted for organized crime (national or transnational in nature), serious predicate offences (in terms of frequency, duration or economic impact) or for attempted /aided or executed terrorist act - who served a prison sentence but have yet not been rehabilitated subject to provisions of the national law
Is the institution obliged to maintain relationship, offer payment accounts with basic features or limit existing product and services to above mentioned customers assessed to pose high MLTF risk?
3. Do you have any comments on the section titled ‘General requirements’?
Could you confirm that term "entire categories of customers" in point 10 does not refer to the following customer(s) posing high MLTF risk:a) customer(s) incriminated by law enforcement for organized crime (national or transnational in nature), serious predicate offences (in terms of frequency, duration or economic impact) or for attempted /aided or executed terrorist act - detained or on the run from criminal prosecution
b) customer(s) convicted for organized crime (national or transnational in nature), serious predicate offences (in terms of frequency, duration or economic impact) or for attempted /aided or executed terrorist act - imprisoned or on the run from serving a prison sentence
c) customer(s) convicted for organized crime (national or transnational in nature), serious predicate offences (in terms of frequency, duration or economic impact) or for attempted /aided or executed terrorist act - who served a prison sentence but have not yet been rehabilitated subject to provisions of the national law
In case of countries struggling with widespread corruption and high level of social tolerance for corruption, authorities, law enforcement and judiciary may not provide effective response to suspected or committed crime and MLTF predicate offences, especially when it seems to be connected with high profile PEPs and entities influenced by PEPs.
4. Do you have any comments on the section titled ‘adjusting monitoring’?
Could you confirm that terms "vulnerable" in points 18 and 19 do not refer to the following customer(s) posing high MLTF risk:a) customer(s) incriminated by law enforcement for organized crime (national or transnational in nature), serious predicate offences (in terms of frequency, duration or economic impact) or for attempted /aided or executed terrorist act
b) customer(s) convicted for organized crime (national or transnational in nature), serious predicate offences (in terms of frequency, duration or economic impact) or for attempted /aided or executed terrorist act - imprisoned or on the run from criminal prosecution or from serving a prison sentence
c) customer(s) convicted for organized crime (national or transnational in nature), serious predicate offences (in terms of frequency, duration or economic impact) or for attempted /aided or executed terrorist act - who served a prison sentence but have yet not been rehabilitated subject to provisions of the national law
5. Do you have any comments on the section titled ‘applying restrictions to services or products’?
Could you confirm that term "particularly vulnerable" in point 21, do not refer to the following customer(s) posing high MLTF risk:a) customer(s) incriminated by law enforcement for organized crime (national or transnational in nature), serious predicate offences (in terms of frequency, duration or economic impact) or for attempted /aided or executed terrorist act
b) customer(s) convicted for organized crime (national or transnational in nature), serious predicate offences (in terms of frequency, duration or economic impact) or for attempted /aided or executed terrorist act - imprisoned or on the run from criminal prosecution or from serving a prison sentence
c) customer(s) convicted for organized crime (national or transnational in nature), serious predicate offences (in terms of frequency, duration or economic impact) or for attempted /aided or executed terrorist act - who served a prison sentence but have yet not been rehabilitated subject to provisions of the national law
Is the institution obliged to maintain relationship, offer payment accounts with basic features or limit existing product and services to above mentioned customers assessed to pose high MLTF risk?