On 12 July 2021, HM Treasury issued an updated advisory notice regarding the risks posed by jurisdictions with unsatisfactory money laundering and terrorist financing controls.

The Money Laundering and Terrorist Financing (Amendment) (No.2) (High-Risk Countries) Regulations 2021 will come into force on 13 July 2021 and will amend the list of High-Risk Third Countries specified in Schedule 3ZA.

This list replicates those countries listed by the Financial Action Task Force as high risk, or under increased monitoring.

HM Treasury has also published an updated advisory notice regarding money laundering and terrorist financing controls in higher risk jurisdictions.