HM Treasury has published a revised advisory notice, which replaces its 18 February 2014 notice, on money laundering and terrorist financing controls in overseas jurisdictions. The notice gives advice on the risks posed by unsatisfactory anti-money laundering and counter-terrorist financing controls in a number of overseas jurisdictions. HM Treasury therefore advises firms to:
- consider certain jurisdictions named in the notice as high risk for the purposes of the Money Laundering Regulations 2007 and apply enhanced due diligence (EDD) measures in accordance with the risks; and
- take appropriate action in relation to certain other jurisdictions named in the notice to minimise the associated risks, which may include EDD measures in high-risk situations.