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 March 11, 2020
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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. The list of countries included in the latest update are the following:

  • Albania
  • The Bahamas
  • Barbados
  • Botswana
  • Cambodia
  • Ghana
  • Iceland
  • Jamaica
  • Mauritius
  • Mongolia
  • Myanmar
  • Nicaragua
  • Pakistan
  • Panama
  • Syria
  • Uganda
  • Yemen
  • Zimbabwe

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 00356 21378672 or send us an email on [email protected]. 

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