The Money Laundering and Terrorist Financing (Amendment) (High-Risk Countries) Regulations 2021

Amendment of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017

2.—(1) The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017(1) are amended as follows.

(2) In regulation 33 (obligation to apply enhanced customer due diligence), for paragraph (3)(a) substitute—

“(a) a “high-risk third country” means a country which is specified in Schedule 3ZA;”.

(3) In regulation 39(4) (reliance), for “a country which has been identified by the European Commission as a high-risk third country in delegated acts adopted under Article 9.2 of the fourth money laundering directive” substitute “a high-risk third country”.

(4) After Schedule 3 (relevant offences) insert—

Regulation 33(3)

“SCHEDULE 3ZA High-Risk Third Countries

1.   Albania

2.   Barbados

3.   Botswana

4.   Burkina Faso

5.   Cambodia

6.   Cayman Islands

7.   Democratic People’s Republic of Korea

8.   Ghana

9.   Iran

10.   Jamaica

11.   Mauritius

12.   Morocco

13.   Myanmar

14.   Nicaragua

15.   Pakistan

16.   Panama

17.   Senegal

18.   Syria

19.   Uganda

20.   Yemen

21.   Zimbabwe”.

(1)

S.I. 2017/692, amended by S.I. 2019/1511, 2019/253 and 2020/99. There are other amending instruments but none is relevant.