Following the publication by the Financial Action Task Force of two statements identifying jurisdictions with strategic deficiencies in their anti-money laundering
and counter-terrorist financing (AML/CTF) regimes HM Treasury has published an advisory notice advising firms to:
- consider certain specified jurisdictions as high risk for the purposes of the Money Laundering Regulations 2007; and
- take appropriate actions with regard to certain specified jurisdictions in order to reduce associated AML/CTF risks which may include enhanced due diligence measures in high risk situations.
A copy of the advisory notice is available.
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