Anti-Money-Laundering policies and procedures

HM Treasury has updated its advisory notice in respect of the risks posed by unsatisfactory money laundering and terrorist financing controls in a number of jurisdictions.

The notice states that firms should apply enhanced due diligence measures, in accordance with the increased risks, for the following high risk jurisdictions: Algeria, DPRK, Ecuador, Indonesia, Iran and Myanmar. 

It also suggests that enhanced due diligence measures in high risk situations are appropriate in the following juristictions: Afghanistan, Albania, Angola, Argentina, Cambodia, Cuba, Ethiopia, Iraq, Kuwait, Lao PDR, Namibia, Nicaragua, Pakistan, Panama, Papua New Guinea, Sudan, Syria, Tajikistan, Turkey, Uganda, Yemen and Zimbabwe. 

The following jurisdictions are no longer subject to FATF’s AML/CFT compliance process. They are Kenya, Kyrgyzstan, Mongolia, Nepal and Tanzania.

Firms should put in place policies and procedures in order to prevent activities related to money laundering and terrorist financing.

The sanctions list and guidance can be found at www.

You can also find in the July/August issue a reminder of the SARs process.