On 21 September 2016, there was published in the Official Journal of the EU (OJ) a European Commission (Commission) Delegated Regulation supplementing the Fourth Anti-Money Laundering Directive by identifying high-risk third countries with strategic deficiencies in their national anti-money laundering (AML) and counter terrorism-financing (CTF) networks. Our blog entry is here.

This Delegated Regulation will be amended by a further Delegated Regulation that the Commission has published. This latest Delegated Regulation removes Guyana from the list of high risk third countries presenting strategic deficiencies in their AML/CFT framework. The Delegated Regulation notes that Guyana has substantially completed all its action plan items that it previously agreed with the Financial Action Task Force (FATF). Furthermore a FATF onsite visit has concluded that Guyana has a legal and institutional framework in place, which addresses the strategic deficiencies of its AML/CFT regime.

The Delegated Regulation shall enter into force on the day following that of its publication in the OJ.

View European Commission adopts Delegated Regulation amending list of high-risk third countries under MLD4, 24 November 2016