High-Risk Countries: Difference between revisions
No edit summary |
No edit summary |
||
| Line 7: | Line 7: | ||
At time of writing, high-risk third countries include the following: | At time of writing, high-risk third countries include the following: | ||
* Afghanistan | * Afghanistan | ||
* Albania | * Albania | ||
* | * The Bahamas | ||
* Barbados | * Barbados | ||
* Botswana | * Botswana | ||
* Cambodia | * Cambodia | ||
* Democratic People's Republic of Korea | * Democratic People's Republic of Korea (DPRK) | ||
* Ghana | * Ghana | ||
* Iceland | * Iceland | ||
* Iran | * Iran | ||
* Iraq | * Iraq | ||
* Jamaica | * Jamaica | ||
* Mauritius | * Mauritius | ||
* Mongolia | * Mongolia | ||
* Myanmar | * Myanmar | ||
* Nicaragua | * Nicaragua | ||
* Pakistan | * Pakistan | ||
* Panama | * Panama | ||
* Syria | * Syria | ||
* Trinidad and Tobago | * Trinidad and Tobago | ||
* Uganda | * Uganda | ||
* | * Vanuatu | ||
* Yemen | * Yemen | ||
* Zimbabwe | * Zimbabwe | ||
For more information on how high-risk third countries are identified, please see the [https://ec.europa.eu/info/index_en European Commission] and [https://www.fatf-gafi.org/ FATF] websites. | For more information on how high-risk third countries are identified, please see the [https://ec.europa.eu/info/index_en European Commission] and [https://www.fatf-gafi.org/ FATF] websites. | ||
Revision as of 19:48, 4 July 2020
Bittylicious expects its customers to disclose whether they are based in a high-risk third country, as defined by bodies such as the European Commission and the Financial Action Task Force (FATF).
Generally speaking, high-risk countries are countries known to have high levels of corruption, criminal activity, terrorism, illegal drug-trafficking, etc. which may indicate a higher risk of money laundering or terrorist financing. Such countries may also be subject to sanctions, embargoes or similar measures issued by, for example, the European Union or the United Nations.
For individuals, assessment would be based on their country of residency. For corporate entities, this would be where they are incorporated, have their principal place of business, or have their principal regulatory authority.
At time of writing, high-risk third countries include the following:
- Afghanistan
- Albania
- The Bahamas
- Barbados
- Botswana
- Cambodia
- Democratic People's Republic of Korea (DPRK)
- Ghana
- Iceland
- Iran
- Iraq
- Jamaica
- Mauritius
- Mongolia
- Myanmar
- Nicaragua
- Pakistan
- Panama
- Syria
- Trinidad and Tobago
- Uganda
- Vanuatu
- Yemen
- Zimbabwe
For more information on how high-risk third countries are identified, please see the European Commission and FATF websites.