The Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) Regulations 2023

The Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) Regulations 2023 (SI 2023/704) 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 for purposes of applying enhanced customer due diligence pursuant to regulation 33(3) of same Instrument.
Thereafter, Cambodia and Morocco have been removed from the list.
The consolidated list of high risk countries now includes: Albania, Barbados, Burkina Faso, Cayman Islands, Democratic People’s Republic of Korea, Democratic Republic of the Congo, Gibraltar, Haiti, Iran, Jamaica, Jordan, Mali, Mozambique, Myanmar, Panama, Philippines, Senegal, South Sudan, Syria, Tanzania, Turkey, Uganda, United Arab Emirates, and Yemen.