AML/CFT – Amendments to List B (Jurisdictions that may pose a higher risk)

The Authority wishes to draw your attention to some amendments to List B (jurisdictions that may pose a higher risk) following the October 2020 FATF plenary.

On 28 April 2020, FATF announced that, due to the significant impact of the COVID-19 pandemic on countries’ ability to actively participate in mutual evaluation and related follow-up processes, they would temporarily postpone all remaining mutual evaluation and follow-up deadlines.

As previously highlighted, due to the COVID-19 Pandemic, the FATF decided on a general pause in the review process for high-risk jurisdictions subject to a call for action (List A). The FATF plenary also agreed to a general pause in the review process for jurisdictions subject to increased monitoring, by granting countries an additional four months for deadlines and agreeing not to review these countries at the June 2020 plenary.

At the October 2020 plenary, Iceland and Mongolia voluntarily reported on their progress, which has resulted in their removal from the list of jurisdictions with strategic deficiencies (List B). Lists A, C and D remain unchanged.

The country lists have been amended by the Cabinet Office and can be viewed on the DHA’s website.