Handbook on Countering Financial Crime and Terrorist Financing

The Commission has today updated Appendix I to the Handbook as a result of the outcomes of the FATF plenary held 21-23 October 2020 where it was announced that Iceland and Mongolia are no longer under increased monitoring by FATF. Iceland and Mongolia have strengthened the effectiveness of their AML/CFT regimes and addressed related technical deficiencies to meet the commitments in their respective action plans regarding the strategic deficiencies that the FATF identified in October 2019. Iceland has been removed from Appendix I, but Mongolia will remain as it continues to be listed by a relevant external source.

Appendix I lists countries and territories that are identified by relevant external sources as presenting a higher risk of money laundering and/or financing of terrorism. The Commission has taken the opportunity to update the list to take into account revisions by other external sources to their country assessments. This has resulted in the addition of the North Sinai region and the removal of Bhutan and Saudi Arabia from Appendix I. Firms are encouraged to review the updated Appendix I in order to assess the impact that these changes may have on their business.

The FATF page on High-Risk and Other Monitored Jurisdictions can be found here.

Updated and tracked versions of Appendix I can be found within the Notices, Instructions & Warnings page or within the Handbook on Countering Financial Crime and Terrorist Financing page.