On May 5, 2020, the European Commission published (i) the Communication of the Action Plan (AP) for a comprehensive EU policy on the prevention of money laundering and financing terrorism (AML/CFT); (ii) the Delegated Regulation updating the countries identified as high risk countries for AML/CFT; and (iii) the methodology for the identification of high risk … Continue Reading
On 23 June 2017, the Financial Action Task Force (FATF) published information identifying jurisdictions with deficiencies in their antimoney laundering and counter-terrorist financing regimes. In response to this published information by the FATF, in its advisory notice, HM Treasury advises firms to consider North Korea and Iran as high-risk jurisdictions for the purposes of the Money Laundering Regulations 2007, and … Continue Reading
