Annex II

The following is a non-exhaustive list of factors and types of evidence of potentially lower risk referred to in Article 16:

1. (1)

   Customer risk factors:

   1. (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;

   2. (b)

      public administrations or enterprises;

   3. (c)

      customers that are resident in geographical areas of lower risk as set out in point (3);

2. (2)

   Product, service, transaction or delivery channel risk factors:

   1. (a)

      life insurance policies for which the premium is low;

   2. (b)

      insurance policies for pension schemes if there is no early surrender option and the policy cannot be used as collateral;

   3. (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;

   4. (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;

   5. (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);

3. (3)

   F1Geographical risk factors — registration, establishment, residence in:

   1. (a)

      Member States;

   2. (b)

      third countries having effective AML/CFT systems;

   3. (c)

      third countries identified by credible sources as having a low level of corruption or other criminal activity;

   4. (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.