The Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) Regulations, SI 2023/704, update the list of high-risk third countries in Schedule 3ZA to the principal Anti-Money Laundering Regulations (SI 2017/692). Cambodia and Morocco have been removed from the list.
The list of high-risk countries is significant because, under the principal regulations, extra anti-money laundering due diligence measures are required to be taken in relation to any business relationships and any relevant transactions involving a country on that list.
The Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) Regulations, SI 2023/704, update the list of high-risk third countries in Schedule 3ZA to the principal Anti-Money Laundering Regulations (SI 2017/692). Cambodia and Morocco have been removed from the list.
The list of high-risk countries is significant because, under the principal regulations, extra anti-money laundering due diligence measures are required to be taken in relation to any business relationships and any relevant transactions involving a country on that list.
