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High Risk Countries

As per the directives of the Financial Action Task Force (FATF), high risk jurisdictions are classified as having significant strategic deficiencies in their regimes to counter money laundering, terrorist financing and proliferation financing.

For all countries identified as high risk, the FATF calls on all members and urges all jurisdictions to apply enhanced due diligence, and in the most serious cases, countries are called upon to apply counter-measures to protect the international financial system from the ongoing money laundering, terrorist financing, and proliferation financing (ML/TF/PF) risks emanating from the country. This list is often referred to as the ‘black list’.

A comprehensive list of jurisdictions with strategic deficiencies can be found Here

 

 

Jurisdictions under increased monitoring are actively working with the FATF to address strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to swiftly resolving the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. This list is often externally referred to as the ‘grey list’.

 

A comprehensive list of jurisdictions under increased monitnoring can be found Here

 

Financial Institutions and DNFBPs should conduct enhanced due diligence measures that are set out in paragraph 20 of the Interpretive Note to Recommendation 10 of the FATF Recommendations, and any other measures that have a similar effect in mitigating risks can be found Here.