METHODOLOGY FOR IDENTIFYING HIGH RISK THIRD COUNTRIES UNDER THE 4TH AML DIRECTIVE

This Methodology was published by the EU Commission on 22nd June.  Under Article 9 of Directive (EU) 2015/849 (the 4th Anti-Money Laundering Directive), the Commission is required identify high-risk third countries through the adoption of delegated acts.  The Directive – as amended by Directive (EU) 2018/843 (the 5th Anti-Money Laundering Directive) establishes the scope and the legal requirements to be fulfilled and which are developed in the methodology.  The Methodology provides a methodological approach for identifying third country jurisdictions which have strategic deficiencies in their AML/CFT regimes (“high-risk third countries”).

https://ec.europa.eu/info/sites/info/files/swd_2018_362_f1_staff_working_paper_en_v2_p1_984066.pdf

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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