Red Flags

 

Type of customers that may be regarded as high risk customers

The circumstances specified hereunder might be regarded as circumstances showing a high risk for money laundering or terrorist financing, taking into account any information or explanation that may reduce the risk:
 
(1)          A customer that is a politically exposed person;
(2)          A customer from a country or a territory that is specified in the Second Schedule of the Order or that, as far as the business service provider knows, the customer performs transactions with countries or territories specified in the said Second Schedule;
(3)          A customer performing activities in cash for large amounts without any commercial reason or logic;
(4)          A customer in respect of whom the business service provider is concerned that it is related to criminal entities or terrorism activists, and the business service provider does not have to present questions to the customer or inquire the facts with him;
(5)          A customer asking to perform a business service without a commercial explanation or logic;
(6)          A customer in respect of which the business service provider thinks that it is under, high risk, inter alia in light of its sphere of activity or any other information pertaining to the matter under its knowledge;
(7)          A customer asking to perform a business service in funds and the business service provider is concerned about the source of these funds;
(8)          A customer who refuses to furnish information required for the purpose of fulfilling the Order.