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EU policy on high-risk third countries

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 countryDate of entry into force
Afghanistan20 September 2016
The Bahamas1 October 2020
Barbados1 October 2020
Botswana1 October 2020
Cambodia1 October 2020
Democratic People’s Republic of Korea (DPRK)20 September 2016
Ghana1 October 2020
Iran20 September 2016
Iraq20 September 2016
Jamaica1 October 2020
Mauritius1 October 2020
Mongolia1 October 2020
Myanmar1 October 2020
Nicaragua1 October 2020
Pakistan2 October 2018
Panama1 October 2020
Syria20 September 2016
Trinidad and Tobago14 February 2018
Uganda20 September 2016
Vanuatu20 September 2016
Yemen20 September 2016
Zimbabwe1 October 2020

Refer to link below:

https://ec.europa.eu/info/business-economy-euro/banking-and-finance/financial-supervision-and-risk-management/anti-money-laundering-and-counter-terrorist-financing/eu-policy-high-risk-third-countries_en

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