On 28 March 2022, the Treasury passed The Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) Regulations 2022 along with an explanatory memorandum updating the list of high-risk countries for anti-money laundering (AML) purposes.
On 28 March 2022, the Treasury passed The Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) Regulations 2022 along with an explanatory memorandum updating the list of high-risk countries for anti-money laundering (AML) purposes.
The new list reflects changes made to the Financial Action Task Force’s (FATF) black list updated in early March.
Enhanced due diligence should be carried out on customers established in the following countries:
The United Arab Emirates is the latest addition.
Zimbabwe is no longer a ‘high-risk third country’.
Kayne Osbourne is ComplyEasy's Founder. Kayne is a Chartered Fellow of the Chartered Institute for Securities Investments, CAMS certified and has advised dozens of fintech and traditional financial services businesses with turning compliance into an engine of growth.
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