EU delegated act on high-risk third countries – October 1 /2 reminder – the following countries have been identified as strategic deficiencies in their AML/CFT regimes that pose significant threats to the financial system of the Union (‘high-risk third countries’).
1 October 2020 :
The Bahamas
Barbados
Botswana
Cambodia
Ghana
Jamaica
Mauritius
Mongolia
Myanmar
Nicaragua
Panama
Zimbabwe
2 October 2018 = Pakistan
On 7 May 2020, the European Commission adopted a new delegated regulation in relation to third countries which have strategic deficiencies in their AML/CFT regimes that pose significant threats to the financial system of the Union (‘high-risk third countries’).
Identification of such countries is a legal requirement stemming from Article 9 of Directive (EU) 2015/849 (4th Anti-Money Laundering Directive) and aiming at protecting the Union financial system and the proper functioning of the internal market. The delegated regulation amends delegated Regulation (EU) 2016/1675.
Jurisdictions identified as having strategic deficiencies in their AML/CFT regimes.
| High-risk third country | Date of entry into force |
| Afghanistan | 20 September 2016 |
| The Bahamas | 1 October 2020 |
| Barbados | 1 October 2020 |
| Botswana | 1 October 2020 |
| Cambodia | 1 October 2020 |
| Democratic People’s Republic of Korea (DPRK) | 20 September 2016 |
| Ghana | 1 October 2020 |
| Iran | 20 September 2016 |
| Iraq | 20 September 2016 |
| Jamaica | 1 October 2020 |
| Mauritius | 1 October 2020 |
| Mongolia | 1 October 2020 |
| Myanmar | 1 October 2020 |
| Nicaragua | 1 October 2020 |
| Pakistan | 2 October 2018 |
| Panama | 1 October 2020 |
| Syria | 20 September 2016 |
| Trinidad and Tobago | 14 February 2018 |
| Uganda | 20 September 2016 |
| Vanuatu | 20 September 2016 |
| Yemen | 20 September 2016 |
| Zimbabwe | 1 October 2020 |
Refer to link below:
- #European Union
- #high-risk third countries
- #policy
