The European Commission has updated its list of high-risk third country jurisdictions with strategic deficiencies in their AML/CFT regimes.

The updates take into account changes made to the FATF ‘grey list’ of jurisdictions under increased monitoring in February 2023.

The following updates were made:

  • Nigeria has been added;
  • South Africa has been added;
  • Cambodia has been removed; and
  • Morocco has been removed.

The changes will be reflected in a delegated regulation entering into force after the scrutiny and non-objection of the European Parliament and Council over a period of one month.

Firms should take note of ongoing developments surrounding the EU list of high-risk third countries in order to consider their exposure and any actions required.

Share with: