On 14 November 2022, HM Treasury published an updated advisory notice on money laundering and terrorist financing controls in high-risk third countries.
The advisory notice identifies the following 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:
- Albania
- Barbados
- Burkina Faso
- Cambodia
- The Cayman Islands
- DPRK
- Democratic Republic of the Congo
- Gibraltar
- Haiti
- Iran
- Jamaica
- Jordan
- Mali
- Morocco
- Mozambique
- Myanmar
- Panama
- The Philippines
- Senegal
- South Sudan
- Syria
- Tanzania
- Turkey
- Uganda
- United Arab Emirates
- Yemen
The following jurisdictions are subject to financial sanctions measures, which require firms to take additional measures:
- Democratic Republic of the Congo
- DPRK
- Iran
- Mali
- Myanmar
- South Sudan
- Syria
- Yemen.
Nicaragua and Pakistan are no longer subject to the Financial Action Task Force’s increased monitoring process due to their significant progress in improving their anti-money laundering / countering the financing of terrorism regime.
