Individuals with public responsibility will be considered to be those that perform or have performed important public functions such as Heads of State, Heads of Government, Ministers, or other Members of Government, Secretaries of State or Deputy Secretaries; Members of Parliament, Magistrates of Supreme Courts, Constitutional Courts, or other High Judicial Authorities whose decisions are not normally subject to appeal except under extraordinary circumstances, including equivalent members of the Tax Ministry; Members of Courts of Accounts or Central Bank Councils; Ambassadors and business leaders; high-ranking leaders of the Armed Forces; Members of Publicly Owned Business Oversight, Management, or Administration Bodies; Directors, Deputy Directors, and Members of the Management Board, or similar functions, of an International Organisation; and senior leadership positions in political parties with parliamentary representation.
In addition, the following will also be considered individuals with public responsibility:
The Money Laundering and Financing of Terrorism Commission establishes a catalogue from which certain assumptions are extracted:
- Risk associated with identifying the client
Potential clients that decline to or resist providing the information necessary to understand their normal information or activities in a professional relationship, or the source of money, where applicable, and the identity of the effective beneficiary or real owner.
Potential clients that provide false or erroneous information, or information that is difficult for the professional to verify, or decline to or resist providing information, data, and documents that are normally required in order to allow the transaction to take place.
Potential clients that are residents of, or established in tax havens, or countries or territories that do not cooperate in the fight against money laundering and the financing of terrorism.
Potential clients that show indications of acting on behalf of a third party, attempting to hide the identity of the real client.
Potential clients that intend for AGN to figure as the bank account owner, or company shareholders through which funds are channelled or transactions are completed.
The establishment of companies or capital increases with non-monetary contributions in which the assets provided (holdings or shares in other companies, office materials, etc.) are difficult to value and have no logical explanation.
The simultaneous establishment of various companies involving a single natural or legal person when there is no logical economic explanation, or when there are abnormal circumstances (for example, non-resident shareholders or administrators, the involvement of minors or the handicapped).
The establishment of companies with the single purpose of assets being placed in the name of a legal entity, placing an intermediary figurehead that is associated with the true owner, without a justified reason.
The transfer of shareholdings or equity shares outside organised markets between non-residents, agreeing that the price, payment method, and other transaction conditions have been carried out abroad, confessing to having received payment previously, and efficiently submitting the payment letter.
The sale of holdings or shares to individuals without any reasonable relationship with the previous shareholders in a brief period following the company's registration in the Mercantile Registry.
The acquisition of companies in liquidation when conditions are not economically logical.
Transactions completed between entities without their own legal status due to their nature (trust, estate of a deceased person, community of goods), or because it is temporary (irregular companies or companies in formation), in which the operation is explicitly incoherent with the size or activity thereof.
Using a chain of companies without logical reason.
- Risk associated with the nature of transactions
Transactions in which prices are set that are blatantly lower or higher than market prices.
Transactions that do not correspond to the nature or volume of activity, or the client's operational history.
Transactions in which payment is made in cash, with bank notes, cash checks, or other anonymous instruments.
Attempts at transactions in which payment is meant to be made through international transfer that does not contain the identity of the payer or the originating account number.
Transactions in which payment is made through the endorsement of a check by a third party, or through debt compensation without a justified reason.
Operations in which payment is made using funds from tax havens, countries or territories that do not cooperate in the fight against money laundering and the financing of terrorism, or States where particularly active criminal organisations are known to exist (for example, drug trafficking, terrorist organisations, organised crime, human trafficking).
Quantities received through deposit, especially in cash, for application that the depositor has planned with an apparently unbelievable or unusual purpose.
The payment or provision of funds for the payment of duties or taxes coming from a third party not involved in the transaction, without logical explanation.
Payment is deferred to a date quite close to the time of authorisation, especially if no guarantee is established to secure it, without logical explanation.
Transaction in which payment is made using an intermediate account or bridge account, whose owner is the professional involved in the transaction, without logical explanation.
Transactions signed in a public document, in which there is an express request made by the intervening parties to not verify the registry information or to not provide official register publication of the legal business.
Transactions in which the client or a third party are contributing a large sum of money in cash as a guarantee provided by the borrower or debtor instead of simply using these funds directly, without logical explanation.
Transactions in which an attempt is made to hide or obscure the true owner or parties involved in the transaction.
Transactions whose funds have an unusual origin or destination, for example: funds that come from or are destined for jurisdictions not associated with the client or other intervening parties, funds that come from or are destined for third-party individuals not involved with the transaction, and without justifying cause, etc.
Transactions where the private expenses of an individual are financed by a government, company, or business without apparent reason.
Transactions in which the guarantee planned for the transaction is found to be in a high-risk jurisdiction.
Transactions that do not correspond to the company's purpose or type of activity, or those whose amount or frequency are not justified by the company's size or trajectory.
Transactions with mortgages that are advantageous or under unusually favourable terms for the borrower (low interest rates, short repayment period, lack of guarantees, etc.).