On Feb. 15, GE BaFin issued circular on third countries' AML risk.
- Follows EC Feb. 2019 adopted a list of high risk third countries re AML.
High Risk Jurisdictions
- Circular relating to third countries which have strategic deficiencies in their systems to combat money laundering / terrorist financing that pose risks to financial system.
EU Reg 2016/1675
- Delegated regulation 2016/1675 last amended by delegated regulation 2018/1467.
- Includes North Korea, Iran, Afghanistan, Ethiopia, Bosnia/Herzegovina, Guyana, Iraq, Yemen, Laos, Pakistan, Sri Lanka, Syria, Trinidad/Tobago, Tunisia, Uganda, Vanuatu.
- Referred to declaration of FATF of Oct. 19, 2018, on Iran, North Korea.
FATF Information Report
- Referred to FATF information report of Oct. 19, 2018, on countries under surveillance.
- The country reviews by the FATF / the FATF Regional Groups (FSRBs) have continued to show weaknesses in some countries with regard to the key FATF recommendations.
- The information report included following jurisdictions: Ethiopia, Bahamas, Botswana, Ghana, Yemen, Pakistan, Serbia, Sri Lanka, Syria, Trinidad and Tobago, and Tunisia.