EU delegated act on high-risk third countries – October 1 /2 reminder – the following countries have been identified as strategic deficiencies in their AML/CFT regimes that pose significant threats to the financial system of the Union (‘high-risk third countries’).
1 October 2020 :
The Bahamas
Barbados
Botswana
Cambodia
Ghana
Jamaica
Mauritius
Mongolia
Myanmar
Nicaragua
Panama
Zimbabwe
2 October 2018 = Pakistan
On 7 May 2020, the European Commission adopted a new delegated regulation in relation to third countries which have strategic deficiencies in their AML/CFT regimes that pose significant threats to the financial system of the Union (‘high-risk third countries’).
Identification of such countries is a legal requirement stemming from Article 9 of Directive (EU) 2015/849 (4th Anti-Money Laundering Directive) and aiming at protecting the Union financial system and the proper functioning of the internal market. The delegated regulation amends delegated Regulation (EU) 2016/1675.
Jurisdictions identified as having strategic deficiencies in their AML/CFT regimes.
High-risk third country | Date of entry into force |
Afghanistan | 20 September 2016 |
The Bahamas | 1 October 2020 |
Barbados | 1 October 2020 |
Botswana | 1 October 2020 |
Cambodia | 1 October 2020 |
Democratic People’s Republic of Korea (DPRK) | 20 September 2016 |
Ghana | 1 October 2020 |
Iran | 20 September 2016 |
Iraq | 20 September 2016 |
Jamaica | 1 October 2020 |
Mauritius | 1 October 2020 |
Mongolia | 1 October 2020 |
Myanmar | 1 October 2020 |
Nicaragua | 1 October 2020 |
Pakistan | 2 October 2018 |
Panama | 1 October 2020 |
Syria | 20 September 2016 |
Trinidad and Tobago | 14 February 2018 |
Uganda | 20 September 2016 |
Vanuatu | 20 September 2016 |
Yemen | 20 September 2016 |
Zimbabwe | 1 October 2020 |
Refer to link below: