Exemptions
•
Countries may decide not to apply some Recommendations
that require CAs and LEAs to take certain actions if:
•
Risk of ML/TF is proven to be low, it occurs in limited and justified
circumstances and relates to a particular sector of the CAs or
LEAs; or
•
A financial activity is carried out on an occasional or limited basis
•
HOWEVER, all record keeping requirements still apply
Obligations for Countries - Assessing Risk
