Updated List of Countries by Geographical Risk Area

UniCredit Bank Slovenija d.d.
Summary: 
A new list of countries by geographical risk area was announced by Bank of Slovenia.
Fri, 20/03/2015

Bank of Slovenia announced an updated list of countries by geographical risk area, to be used for KYC / AML purposes in the market. The changes, as compared to the currently valid list, are listed below.

The following countries had their risk category upgraded:

  • from standard to simplified procedure: Brazil
  • from comprehensive to standard procedure: Lesotho, Uruguay

The following countries had their risk category downgraded:

  • from standard to comprehensive procedure: Mali, Luxembourg

Please be reminded that the list of countries by geographical risk area is subject to change in accordance to the local legislation.

The updated list of countries by geographical risk area is to be used when a new business relationship is established or when an existing customer is in the process of opening new securities accounts.

Our relationship team will be in touch with our clients shortly to discuss this further, so that we can make sure that our clients receive timely and efficient support with regards to their activities.

Impact on investors: When opening an account for a client residing in a country listed under the comprehensive procedure, the same documentation as for the standard procedure needs to be provided. The renewal period of the client documentation for the downgraded countries (Mali, Luxembourg) is now shortened and required for all active securities accounts every 2 years.  The renewal period for the upgraded countries is now prolonged: for the simplified procedure (Brazil) every 5 years and for the standard procedure (Lesotho, Uruguay) every 3 years.