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UK high-risk third countries.- 4 JULY 2022

06/07/2022

On 4 July 2022, HM Treasury published an updated advisory notice on money laundering and terrorist financing controls in high-risk third countries.

The advisory notice explains that the Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) (No.2) Regulations will come into force on 11 July 2022.

The Regulations replace the list of high-risk third countries specified in Schedule 3ZA of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs 2017) with a new list.

That list will continue to mirror the Financial Action Task Force's (FATF) 'Jurisdictions under increased monitoring' and 'High-risk jurisdictions subject to a call for action' documents.

*These jurisdictions are subject to financial sanctions measures at the time of publication of this notice which require firms to take additional measures. Details can be found here

Source

  1. https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1087586/HM_Treasury_Advisory_Notice_-_High_Risk_Third_Countries.pdf
  2. https://www.gov.uk/government/publications/money-laundering-advisory-notice-high-risk-third-countries--2/hm-treasury-advisory-notice-high-risk-third-countries
UNITED KINGDOM