High Risk Jurisdictions – Updated List

The Financial Action Task Force (FATF), also known as the Global Anti-Money Laundering watchdog, updates its list of high-risk and other monitored jurisdictions which are considered to have weak AML-CFT regimes. This is done three times a year (February, June and October). As per last update on February 21, 2020, the blacklisted high-risk jurisdictions, subject […]

Written By Chiara Barbacci

On June 21, 2022
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The Financial Action Task Force (FATF), also known as the Global Anti-Money Laundering watchdog, updates its list of high-risk and other monitored jurisdictions which are considered to have weak AML-CFT regimes. This is done three times a year (February, June and October).

As per last update on February 21, 2020, the blacklisted high-risk jurisdictions, subject to a call for action to comply with the FATF standards, are:

  • Democratic People’s Republic of Korea (DPRK)
  • Iran

FATF in its Grey List identifies additional jurisdictions having strategic deficiencies in their regimes to counter Money Laundering, Terrorist Financing and Proliferation Financing. As of June 17, 2022, the list of countries included are the following:

  • Albania
  • Barbados
  • Burkina Faso
  • Cambodia
  • Cayman Islands
  • Gibraltar
  • Haiti
  • Jamaica
  • Jordan
  • Mali
  • Morocco
  • Myanmar
  • Nicaragua
  • Pakistan
  • Panama
  • Philippines
  • Senegal
  • South Sudan
  • Syria
  • Türkiye
  • Uganda
  • United Arab Emirates
  • Yemen

How can we help?  

For further information, please contact one of the firm’s tax partners, Stephen Balzan on [email protected] or Elaine Camilleri [email protected]. ACT can help you understand the changes to the tax rules and how these can impact your business.  

Apart from its offices in St. Julian’s Malta, ACT operates from a second office in Gozo, which is situated in the capital city of Victoria.  For an appointment in our Gozo office, please call on +356 21378672 or send us an email on [email protected]. 

Disclaimer: This article contains general information only and is not intended to address the circumstances of any particular individual or entity. ACT, by means of this article is not rendering any accounting, business, financial, investment, legal, tax, or other professional advice or service. This article is not a substitute for such professional advice, nor should it be used as a basis for any decision or action that may affect your finances or your business. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. Before making any decisions or before taking any action that may affect your finances or your business, you should consult a qualified professional adviser. ACT shall not be responsible for any loss whatsoever sustained by any person who relies on this article.