NOTICE
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Please be advised, The Financial Services Commission, Providenciales office, will be closed to the public from Monday 23rd December 2024 to Friday 27th December 2024.
List of High-Risk Jurisdictions
The Financial Services Commission (“Commission”) wishes to advise all persons who are required to comply with the requirements of the Anti-Money Laundering and Prevention of Terrorist Financing Regulations, the Anti-Money Laundering and Prevention of Terrorist Financing Code, and the Non-Profit Organisations Regulations to note the concerns expressed by the FATF with respect to Iran, the DPRK, and Mynamar and consider the associated money laundering and/or terrorist financing risks.
The Commission encourages all to apply appropriate or enhanced customer due diligence measures when dealing with customers or handling transactions connected with any of the jurisdictions that have been identified by the FATF’s public statement.
More information on the statement for high-risk jurisdictions can be obtained by clicking on this link.
The Commission advises all persons who are required to comply with the requirements of the Anti-Money Laundering and Prevention of Terrorist Financing Regulations, the Anti-Money Laundering and Prevention of Terrorist Financing Code, and the Non-Profit Organisations Regulations to note the FATF statements with respect to the above mentioned jurisdictions.
The FATF does not call for the application of enhanced due diligence measures to be applied to these jurisdictions, but encourages its members and all jurisdictions to take into account the information presented in their risk analysis.
As countries’ AML/CFT/CFP regimes are updated to meet the applicable FATF standards, countries are removed from the lists above.
More information on the FATF Statements in respect of countries identified above can be found here.