(3)

Geographical risk factors: third countries subject to increased monitoring or otherwise identified by the FATF due to the compliance weaknesses in their AML/CFT systems; third countries identified by credible sources / acknowledged processes, such as mutual evaluations, detailed assessment reports or published follow-up reports, as not having effective AML/CFT systems; third countries identified by credible sources / acknowledged processes as having significant levels of corruption or other criminal activity; third countries subject to sanctions, embargos or similar measures issued by, for example, the Union or the UN; third countries providing funding or support for terrorist activities, or that have designated terrorist organisations operating within their country; third countries identified by credible sources or pursuant to acknowledged processes as enabling financial secrecy by: posing barriers to the cooperation and exchange of information with other jurisdictions; having strict corporate or banking secrecy laws which prevent institutions and their employees from providing customer information to competent authorities, including through fines and penalties; having weak controls for the creation of legal entities or setting up of legal arrangements; or not requiring beneficial ownership information to be recorded or held in a central database or register.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.