The Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 require the UK regulated sector to apply enhanced customer due diligence to high-risk countries.
In response to recent statements from the Financial Action Task Force (FATF), HM Treasury advises firms to consider the following:
|Consider as high risk and apply counter measures and enhanced due diligence measures in accordance with the risks||Consider as high risk and apply enhanced due diligence measures in accordance with the risks||Take appropriate actions to minimise the associated risks, which may include enhanced due diligence measures in high risk situations|
|DRPK*||Iran*||Ethiopia, Iraq*, Serbia, Sri Lanka, Syria*, Trinidad and Tobago, Tunisia*, Vanuatu, and Yemen*|
*These jurisdictions are subject to sanctions measures at the time of publication of this notice which require firms to take additional measures. For details, please click here.