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 BahamasBarbadosBotswanaCambodiaGhanaJamaicaMauritiusMongoliaMyanmarNicaraguaPanamaZimbabwe2 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: 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
