News

Updated HM Treasury advisory notice on money laundering and terrorist financing controls in higher risk jurisdictions

26/03/2021

On 24 March 2021, HM Treasury updated its advisory notice on money laundering and terrorist financing controls in overseas jurisdictions (AML/CTF).

This notice replaces all previous notices issued by HM Treasury on the subject. The revised notice follows two statements published by the Financial Action Task Force (FATF) on 25 February 2021, identifying jurisdictions with strategic deficiencies in their AML/CTF regimes.

The advisory notice identifies:

  1. The Democratic People's Republic of Korea and
  2. Iran

as being higher-risk jurisdictions for which enhanced due diligence and appropriate countermeasures ought to be deployed to meet the risks presented by each to the international financial system.

The advisory notice identifies the following as countries for which appropriate actions should be taken to minimise the associated risks and these actions may include enhanced due diligence in high-risk situations.

  1. Albania,
  2. Barbados,
  3. Botswana,
  4. Burkina Faso,
  5. Cambodia,
  6. Cayman Islands,
  7. Ghana,
  8. Jamaica,
  9. Mauritius,
  10. Morocco,
  11. Myanmar,
  12. Nicaragua,
  13. Pakistan,
  14. Panama,
  15. Senegal,
  16. Syria,
  17. Uganda,
  18. Yemen and
  19. Zimbabwe

https://www.gov.uk/government/publications/money-laundering-and-terrorist-financing-controls-in-overseas-jurisdictions-advisory-notice