AML: Delegated Regulation on High-Risk Third Countries under MLD4 Published in the Official Journal of the EU
On June 19, Delegated Regulation (EU) 2020/855 (the Delegated Regulation) was published in the Official Journal of the EU. The Delegated Regulation amends the list of high-risk third countries with strategic anti-money laundering (AML) and counter-terrorist financing (CTF) deficiencies produced under the Fourth Money Laundering Directive (MLD4).
The Delegated Regulation will:
add the following third countries that have been identified as having strategic AML and CTF deficiencies to the high-risk list: the Bahamas, Barbados, Botswana, Cambodia, Ghana, Jamaica, Mauritius, Mongolia, Myanmar/Burma, Nicaragua, Panama and Zimbabwe; and
remove the following third countries that no longer present strategic AML and CTF deficiencies from the high-risk list: Bosnia-Herzegovina, Ethiopia, Guyana, Lao People’s Democratic Republic, Sri Lanka and Tunisia.
The Delegated Regulation becomes effective on July 9. However, the article adding third countries to the list applies from October 1, so that firms have time to make the changes required to implement this provision.
The Delegated Regulation is available here.