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JFSC APPENDIX D2 Source 1/2 and the UK High-Risk country list


The UK High Risk country list [see below] has been updated and the good news in Jersey at least is that all those listed match all countries of the JFSC appendix D2 Source 1+2 lists

For some details on the UK LIST here are some details

  1. Under the UK’s Money Laundering Regulations (regulation 33(1)(b)), enhanced due diligence (EDD) is mandated for any business relationship with a person established in a high-risk third country.
  2. Until the end of the Brexit transition period, the list of high-risk countries was determined by the European Union (EU) under the 4th Anti Money Laundering Directive.
  3. From 1 January 2021, the UK has had its own standalone list. Since then, any amendments to the EU list do not have effect in the UK.
  4. The UK is entitled to amend its own list of high-risk countries under section 49 of the Sanctions and Anti Money Laundering Act 2018 and has announced proposals to align further with Financial Action Task Force (FATF) practices.
  5. The list of high-risk countries is set out in schedule 3ZA of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.

Who is on the list?

  1. Albania
  2. Barbados
  3. Burkina Faso
  4. Cambodia
  5. Cayman Islands
  6. Democratic People’s Republic of Korea
  7. Haiti
  8. Iran
  9. Jamaica
  10. Jordan
  11. Mali
  12. Malta
  13. Morocco
  14. Myanmar
  15. Nicaragua
  16. Pakistan
  17. Panama
  18. Philippines
  19. Senegal
  20. South Sudan
  21. Syria
  22. Turkey
  23. Uganda
  24. Yemen
  25. Zimbabwe