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JFSC update AML/CFT/CPF Appendix D2 countries and territories - March 2024

17/03/2024

The JFSC announced they have reviewed and updated Appendix D2 of the AML/CFT/CPF Handbook, which lists countries, territories and areas identified by reliable and independent sources as presenting a higher risk of FINANCIAL CRIME

  • Money laundering,
  • Terrorism financing,
  • Proliferation financing, and
  • Sanctions.

These sources include.

  • The Financial Action Task Force (FATF),
  • The United Nations, the Organisation for Economic Co-operation and Development,
  • The World Bank,
  • The US Department of State,
  • The UK Government, and
  • others.

To see the additions & removals to existing countries click here.

The JFSC offer the following Important points to remember.

  • All relevant persons are expected to exercise judgment in how they interpret and use these sources and must reach their conclusions on risks.
  • The sources use different methodologies which are not necessarily comparable. For example, they may consider different risk factors and may comment on different jurisdictions.
  • The sources may be incomplete - The JFSC does not accept responsibility for their findings or conclusions.

Next steps

  • Businesses should review their policies and procedures, existing customer relationships and prospective clients accordingly.
  • Visit the AML/CFT/CPF Handbook page on The JFSC website to view the updated appendices.
  • You can also subscribe to the JFSC news and updates e-mail alerts.
SOURCE
JERSEY

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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.  

news disclaimer -

As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.