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JFSC amend country risk list [D2] after FATF GREY LIST changes - Gibraltar added and Malta removed

27/06/2022

On the 17th of June Gibraltar was added to the FATF grey list and Malta was removed and in response the JFSC have published updated [ APPENDIX D2 ] https://www.jerseyfsc.org/media/5544/d2-pdf.pdf of the to take into account the latest Financial Action Task Force (FATF) statements issued on 17 June 2022.[GREY LIST UPDATE]

  1. Outcomes FATF Plenary, 14-17 June 2022 - https://www.fatf-gafi.org/publications/fatfgeneral/documents/outcomes-fatf-plenary-june-2022.html
  2. GREY LIST = https://www.fatf-gafi.org/publications/high-risk-and-other-monitored-jurisdictions/documents/increased-monitoring-june-2022.html - The Full Grey List Is Shown Below

You can view the updated appendices by visiting the AML/CFT Handbooks page of our website. https://www.jerseyfsc.org/industry/financial-crime/aml-cft-handbooks/

What this means for regulated business in jersey

  • Effective immediately, countries and territories listed under Sources 1 and 2 of Appendix D2 should be treated asnot compliant with FATF Recommendations for the purpose of Article 17A of the Money Laundering Order.
  • Take particular care when considering placing reliance on an obliged person based in one of these countries and territories.
  • Policies and procedures, should be reviewed as well as their existing customer relationships, to assess the impact of these updates on their business.

Full FATF Grey List

  1. Albania
  2. Barbados
  3. Burkina Faso
  4. Cambodia
  5. Cayman Islands
  6. Gibraltar
  7. Haiti
  8. Jamaica
  9. Jordan
  10. Mali
  11. Morocco
  12. Myanmar
  13. Nicaragua
  14. Pakistan
  15. Panama
  16. Philippines
  17. Senegal
  18. South Sudan
  19. Syria
  20. Türkiye
  21. Uganda
  22. United Arab Emirates
  23. Yemen

JERSEY FATF