HM Treasury publishes an updated advisory notice on money laundering and terrorist financing controls in overseas jurisdictions.
The document contains advice issued by HM Treasury about risks posed by unsatisfactory money laundering and terrorist financing controls.
HM Treasury advises firms to consider the following:
• Consider as high risk and apply counter measures and enhanced due diligence measures in accordance with the risks
Democratic People’s Republic of Korea
• Consider as high risk and apply enhanced due diligence measures in accordance with the risks, and any other measures as specified by the FATF that have a similar effect in mitigating risks.
• Take appropriate actions to minimise the associated risks, which may include enhanced due diligence measures in high risk situations
The Bahamas, Botswana, Cambodia, Ethiopia, Ghana, Pakistan, Panama, Sri Lanka, Syria, Trinidad and Tobago, Tunisia and Yemen
The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs 2017) require firms to put policies and procedures in place in order to prevent activities related to money laundering and terrorist financing.
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Please Note: This publication is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Readers should take legal advice before applying the information contained in this publication to specific issues or transactions.
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