High-Risk Countries
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, or have their principal regulatory authority.
At time of writing, high-risk third countries include the following:
- Afghanistan
- Albania
- Algeria
- Bangladesh
- Barbados
- Belarus
- Benin
- Bhutan
- Burkina Faso
- Burundi
- Cambodia
- Cameroon
- Cape Verde
- Cayman Islands
- Central Africa
- Chad
- Chile
- China
- Colombia
- Comoros
- Congo (Brazzaville)
- Congo (Dem. Rep.)
- Côte d’Ivoire
- Democratic People's Republic of Korea (DPRK)
- Egypt
- Equatorial Guinea
- Eritrea
- Eswatini
- Ethiopia
- Gabon
- Guinea
- Guinea Bissau
- Gibraltar
- Haiti
- Honduras
- India
- Indonesia
- Iran
- Iraq
- Israel
- Jamaica
- Jordan
- Kenya
- Kyrgyzstan
- Laos
- Lebanon
- Lesotho
- Libya
- Madagascar
- Maldives
- Mali
- Mauritania
- Morocco
- Mozambique
- Myanmar
- Nepal
- Nicaragua
- Niger
- Nigeria
- Pakistan
- Panama
- Papua New Guinea
- Philippines
- Sao Tome and Principe
- Saudi Arabia
- Senegal
- Sierra Leone
- Solomon Islands
- Somalia
- South Sudan
- Sri Lanka
- Sudan
- Syria
- Thailand
- Togo
- Tonga
- Tunisia
- Turkey
- Uganda
- United Arab Emirates
- United States of America
- Venezuela
- Vietnam
- Yemen
- Zimbabwe
For more information on how high-risk third countries are identified, please see the Isle of Man Government and FATF websites.