Following the Money Laundering and Terrorist Financing (Amendment) (No 2) (High-Risk Countries) Regulations 2021, which updated the list of high-risk third countries in which regulated firms must apply enhanced customer due diligence procedures against, HM Treasury has issued an updated Advisory Notice reminding the UK regulated sector of their requirement to apply enhanced customer due diligence in relation to high-risk countries. Firms subject to the MLRs should take time to read this updated notice to ensure they are complicit with the money laundering regulations.

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