UK high-risk third countries.- 4 JULY 2022
06/07/2022
On 4 July 2022, HM Treasury published an updated advisory notice on money laundering and terrorist financing controls in high-risk third countries.
The advisory notice explains that the Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) (No.2) Regulations will come into force on 11 July 2022.
The Regulations replace the list of high-risk third countries specified in Schedule 3ZA of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs 2017) with a new list.
That list will continue to mirror the Financial Action Task Force's (FATF) 'Jurisdictions under increased monitoring' and 'High-risk jurisdictions subject to a call for action' documents.
*These jurisdictions are subject to financial sanctions measures at the time of publication of this notice which require firms to take additional measures. Details can be found here
Source
- https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1087586/HM_Treasury_Advisory_Notice_-_High_Risk_Third_Countries.pdf
- https://www.gov.uk/government/publications/money-laundering-advisory-notice-high-risk-third-countries--2/hm-treasury-advisory-notice-high-risk-third-countries
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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.