High-Risk Countries: Difference between revisions
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At time of writing, high-risk third countries include the following: | At time of writing, high-risk third countries include the following: | ||
(1) Afghanistan | * (1) Afghanistan | ||
(2) American Samoa | (2) American Samoa | ||
(3) The Bahamas | (3) The Bahamas | ||
Revision as of 12:12, 24 February 2020
Bittylicious expects its customers to disclose whether they are based in a high-risk third country, as defined by the European Commission.
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:
- (1) Afghanistan
(2) American Samoa (3) The Bahamas (4) Botswana (5) Democratic People's Republic of Korea (6) Ethiopia (7) Ghana (8) Guam (9) Iran (10) Iraq (11) Libya (12) Nigeria (13) Pakistan (14) Panama (15) Puerto Rico (16) Samoa (17) Saudi Arabia (18) Sri Lanka (19) Syria (20) Trinidad and Tobago (21) Tunisia (22) US Virgin Islands (23) Yemen
For more information on how high-risk third countries are identified, please see the European Commission’s website.