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 (see daily news 2 March 2015), HM Treasury has published an updated advisory notice advising firms to:
- consider Iran, Myanmar and the Democratic People’s Republic of Korea high risk for the purposes of the Money Laundering Regulations 2007, and apply enhanced due diligence measures accordingly; and
- take appropriate actions with regard to 12 other jurisdictions in order to reduce associated AML/CTF risks.
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