In response to statements from the Financial Action Task Force (FATF) published in late Feb 2021 identifying jurisdictions with strategic deficiencies in their AML/CTF regimes, HM Treasury has issued an updated advisory notice on the requirements to apply Enhanced Due Diligence for higher risk jurisdictions. UK Financial Institutions should review their procedures to bring them in line with the latest advice.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/972966/Annex_A_-_Advisory_Notice_February_2021__002_.pdf