High-Risk Countries: Difference between revisions
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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, have their principal regulatory authority, or where its owners and controllers reside. | 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, have their principal regulatory authority, or where its owners and controllers reside. | ||
For more detailed information on how high-risk third countries are identified, along with a definitive list of countries considered High-Risk at any given time, please see the [https://www.gov.im/about-the-government/departments/home-affairs/chief-executives-office/anti-money-laundering-legislation-and-countering-the-financing-of-terrorism-amlcft/ Isle of Man Government] and [https://www.fatf-gafi.org/ FATF] websites for more information. | |||
* Afghanistan | Countries considered high-risk is subject to change at short notice. Please consult the above websites for the most up-to-date information. | ||
By way of reference, at time of writing, high-risk third countries include the following (subject to change at short notice): | |||
* Afghanistan | |||
* Albania | * Albania | ||
* | * Angola | ||
* Bangladesh | * Bangladesh | ||
* Barbados | * Barbados | ||
* Benin | * Benin | ||
* Bhutan | * Bhutan | ||
* Brazil | |||
* Burkina Faso | * Burkina Faso | ||
* Cambodia | * Cambodia | ||
* Cameroon | * Cameroon | ||
* Cape Verde | * Cape Verde | ||
* Cayman Islands | * Cayman Islands | ||
* Central | * Central African Republic | ||
* Chad | * Chad | ||
* Chile | * Chile | ||
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* Comoros | * Comoros | ||
* Congo (Brazzaville) | * Congo (Brazzaville) | ||
* Congo | * Congo, Dem. Rep. | ||
* Côte d’Ivoire | * Côte d’Ivoire | ||
* Democratic People's Republic of Korea (DPRK) | * Democratic People's Republic of Korea (DPRK) | ||
* Democratic Republic of the Congo | |||
* Egypt | * Egypt | ||
* Equatorial Guinea | * Equatorial Guinea | ||
* Eritrea | * Eritrea | ||
* Eswatini | * Eswatini (Swaziland) | ||
* Ethiopia | * Ethiopia | ||
* Gabon | * Gabon | ||
* Gibraltar | |||
* Guinea | * Guinea | ||
* Guinea Bissau | * Guinea Bissau | ||
* Haiti | * Haiti | ||
* India | * India | ||
* Indonesia | * Indonesia | ||
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* Kenya | * Kenya | ||
* Kyrgyzstan | * Kyrgyzstan | ||
* Laos | * Laos (Lao People's Democratic Republic?) | ||
* Lebanon | * Lebanon | ||
* | * Liberia | ||
* Libya | * Libya | ||
* Madagascar | * Madagascar | ||
* Maldives | * Maldives | ||
* Mali | * Mali | ||
* Morocco | * Morocco | ||
* Mozambique | * Mozambique | ||
* Myanmar | * Myanmar | ||
* Nepal | * Nepal | ||
* Niger | * Niger | ||
* Nigeria | * Nigeria | ||
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* Papua New Guinea | * Papua New Guinea | ||
* Philippines | * Philippines | ||
* Russia | |||
* Sao Tome and Principe | * Sao Tome and Principe | ||
* Saudi Arabia | * Saudi Arabia | ||
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* Sudan | * Sudan | ||
* Syria | * Syria | ||
* | * Tanzania | ||
* Togo | * Togo | ||
* Tonga | * Tonga | ||
* Tunisia | * Tunisia | ||
* | * Türkiye | ||
* Uganda | * Uganda | ||
* Ukraine | |||
* United Arab Emirates | * United Arab Emirates | ||
* Venezuela | * Venezuela | ||
* Vietnam | * Vietnam | ||
* Western Sahara | |||
* Yemen | * Yemen | ||
* Zimbabwe | * Zimbabwe | ||
For more information on how high-risk third countries are identified, please see the [https://www.gov.im/about-the-government/departments/home-affairs/chief-executives-office/anti-money-laundering-legislation-and-countering-the-financing-of-terrorism-amlcft/ Isle of Man Government] and [https://www.fatf-gafi.org/ FATF] websites. | For more information on how high-risk third countries are identified, please see the [https://www.gov.im/about-the-government/departments/home-affairs/chief-executives-office/anti-money-laundering-legislation-and-countering-the-financing-of-terrorism-amlcft/ Isle of Man Government] and [https://www.fatf-gafi.org/ FATF] websites. | ||
Revision as of 17:32, 23 February 2023
Bittylicious expects its customers to disclose whether they are based in a high-risk third country, as defined by the Isle of Man government and bodies such as the Financial Action Task Force (FATF).
Countries may be designated as high-risk where the levels of corruption, criminal activity, terrorism, illegal drug-trafficking, etc. 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, have their principal regulatory authority, or where its owners and controllers reside.
For more detailed information on how high-risk third countries are identified, along with a definitive list of countries considered High-Risk at any given time, please see the Isle of Man Government and FATF websites for more information.
Countries considered high-risk is subject to change at short notice. Please consult the above websites for the most up-to-date information. By way of reference, at time of writing, high-risk third countries include the following (subject to change at short notice):
- Afghanistan
- Albania
- Angola
- Bangladesh
- Barbados
- Benin
- Bhutan
- Brazil
- Burkina Faso
- Cambodia
- Cameroon
- Cape Verde
- Cayman Islands
- Central African Republic
- Chad
- Chile
- China
- Colombia
- Comoros
- Congo (Brazzaville)
- Congo, Dem. Rep.
- Côte d’Ivoire
- Democratic People's Republic of Korea (DPRK)
- Democratic Republic of the Congo
- Egypt
- Equatorial Guinea
- Eritrea
- Eswatini (Swaziland)
- Ethiopia
- Gabon
- Gibraltar
- Guinea
- Guinea Bissau
- Haiti
- India
- Indonesia
- Iran
- Iraq
- Israel
- Jamaica
- Jordan
- Kenya
- Kyrgyzstan
- Laos (Lao People's Democratic Republic?)
- Lebanon
- Liberia
- Libya
- Madagascar
- Maldives
- Mali
- Morocco
- Mozambique
- Myanmar
- Nepal
- Niger
- Nigeria
- Pakistan
- Panama
- Papua New Guinea
- Philippines
- Russia
- Sao Tome and Principe
- Saudi Arabia
- Senegal
- Sierra Leone
- Solomon Islands
- Somalia
- South Sudan
- Sri Lanka
- Sudan
- Syria
- Tanzania
- Togo
- Tonga
- Tunisia
- Türkiye
- Uganda
- Ukraine
- United Arab Emirates
- Venezuela
- Vietnam
- Western Sahara
- Yemen
- Zimbabwe
For more information on how high-risk third countries are identified, please see the Isle of Man Government and FATF websites.