UK high-risk third countries.- 4 JULY 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