The Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) (No. 2) Regulations 2023 (SI 2023/1306) was published on legislation.gov.uk, the official platform of the UK government for publicizing legal documents. The regulations modify The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (S.I. 2017/692) to replace the list of high-risk third countries in Schedule 3ZA with a new list. The Schedule outlines those countries towards which enhanced customer due diligence shall be applied pursuant to regulation 33(1) of same Instrument.
Thereafter, Albania, Cayman Islands, Jordan, and Panama have been removed from and Bulgaria, Cameroon, Croatia, Nigeria, South Africa, and Vietnam added to the list.
#### The consolidated list of high risk countries now includes:
1. Barbados
2. Bulgaria
3. Burkina Faso
4. Cameroon
5. Croatia
6. Democratic People’s Republic of Korea
7. Democratic Republic of the Congo
8. Gibraltar
9. Haiti
10. Iran
11. Jamaica
12. Mali
13. Mozambique
14. Myanmar
15. Nigeria
16. Philippines
17. Senegal
18. South Africa
19. South Sudan
20. Syria
21. Tanzania
22. Turkey
23. Uganda
24. United Arab Emirates
25. Vietnam
26. Yemen.
The Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) (No. 2) Regulations 2023
ID
26068
Other Features
AML
banks
broker
capital management companies
CDD/ KYC
CFT
due diligence
FATF High-Risk Jurisdictions
FATF Jurisdictions under Increased Monitoring
financial advisors
insurance
investment firms
payment services
Date Published: 2023-12-04
Date Taking Effect: 2023-12-05
Regulatory Framework: The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017
Regulatory Type: regulation
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