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UK AML high risk jurisdictions list updated

The Money Laundering and Terrorist Financing (Amendment) (No. 3) (High-Risk Countries) Regulations 2021 (SI 2021 / 1268) has been laid before Parliament, and this amends the “Money Laundering Regulations 2017” (SI 2017 / 692) (MLRs) by substituting the list of high-risk third countries in respect of which extra customer due diligence measures must be taken by relevant persons under the MLRs.

The Explanatory Note summarises the changes (which came into force on 2 November 2021) as follows:

“On the new list, Botswana and Mauritius are no longer classed as high-risk countries and Jordan, Mali and Turkey are now classed as high-risk countries for the purposes of enhanced customer due diligence requirements in regulation 33(3).”

Firms should review their clients and where a client has a prescence in, or has substantial links to Jordan, Mail or Turkey they should revisit their AML client risk assessment. 

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