Country lists updates to the Handbook and Instruction

5th March 2021

The Commission has today issued amendments to the country lists in Appendix C and Appendix I of the Handbook on Countering Financial Crime and Terrorist Financing reflecting the Financial Action Task Force’s updated list of jurisdictions under increased monitoring, which includes the Cayman Islands, Burkina Faso, Morocco and Senegal. Updates to jurisdictions identified by other relevant external sources have also been made.

The amendments include the removal of the Cayman Islands from the list of equivalent jurisdictions in Appendix C and its addition to the list of countries and territories identified in Appendix I which may present a higher risk of money laundering and terrorist financing.  At the same time an instruction is issued to all specified businesses specifying the steps to be taken before the end of September 2021 in respect of business relationships they have which are connected to the Cayman Islands.

Similar action is being taken in the other Crown Dependencies.

The updated appendices, the instruction and the latest FATF notice can be accessed via the below links: