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

• Citation: S.I. 2021/392
• Sections: 3

Section 1 Citation and commencement

(1) These Regulations may be cited as the Money Laundering and Terrorist Financing (Amendment) (High-Risk Countries) Regulations 2021.

(2) These Regulations come into force on 26th March 2021.

Section 2 Amendment of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017

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

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

Section 3 Revocation of Commission Delegated Regulation (EU) 2016/1675

Commission Delegated Regulation (EU) 2016/1675 of 14th July 2016 supplementing Directive (EU) 2015/849 of the European Parliament and of the Council by identifying high-risk third countries with strategic deficiencies is revoked.