FATF regularly publishes statements that identify high-risk countries based on assessments of their AML/CTF regimes. In line with Regulation (33) (6) (c) HM Treasury would like to draw the regulated sectors attention to the latest publication by FATF on high risk jurisdictions.
On 19 October 2018 FATF published two statements identifying jurisdictions with strategic deficiencies in their AML/CTF regimes.
HM Treasury advises firms to consider the following:
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HM Treasury Advice: |
Consider as high risk and apply counter measures and enhanced due diligence measures in accordance with the risks |
Consider as high risk and apply enhanced due diligence measures in accordance with the risks |
Take appropriate actions to minimise the associated risks, which may include enhanced due diligence measures in high risk situations |
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Jurisdictions: |
DPRK* |
Iran* |
The Bahamas Sri Lanka |
*These jurisdictions are subject to sanctions measures at the time of publication of this notice which require firms to take additional measures. Details can be found here: https://www.gov.uk/government/collections/financial-sanctions-regime-specific- consolidated-lists-and-releases
The full advisory can be found here
