Notices, Instructions & Warnings
Current Notices, Instructions and Warnings
Appendix H to the Handbook on Countering Financial Crime and Terrorist Financing lists those countries and territories which the Financial Action Task Force (“FATF”) has identified with significant strategic deficiencies in their regimes to counter ML, FT and financing of proliferation for which it has called for the application of countermeasures.
Appendix I to the Handbook lists a number of countries and territories that are identified by the UK and US governments, intergovernmental and supranational organisations such as the FATF as presenting certain ML and FT risks. Alongside these sources, information is presented reflecting assessments of a country or territory by non-governmental organisations and think tanks which firms may also find useful when they are determining the level of country risk presented by a business relationship or occasional transaction.
The FATF page on High Risk and Other Monitored Jurisdictions can be found here.
For further information regarding the application of Appendices H and I, please refer to the Handbook on Countering Financial Crime and Terrorist Financing.
Business from Sensitive Sources Instructions
Following changes to the Handbook on Countering Financial Crime and Terrorist Financing ("the Handbook") on 19 June 2020, the issuance of Business from Sensitive Sources Instructions has been replaced by the introduction of Appendices H and I to the Handbook. As such, Instruction (Number 01/2020) for Specified Businesses has been repealed as at 19 June 2020.
The Business from Sensitive Sources Instructions issued by the Commission required enhanced customer due diligence measures to be applied by financial services businesses and prescribed businesses in the Bailiwick when taking on business or executing transactions from countries or territories specified within Sections A and C of the Instructions. A copy of repealed Instruction (Number 01/2020) for Specified Businesses, together with log of all Business from Sensitive Sources Instructions and Notices released from December 2007 to June 2020 has been provided below for reference: