Updates to the Handbook on Countering Financial Crime and Terrorist Financing and issuance of Instruction5th July 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 Malta, Haiti, the Philippines and South Sudan.
The amendments include the removal of Malta 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 setting out the steps to be taken before the end of December 2021 in respect of business relationships they have which are connected to Malta.
The Commission has removed Ghana from Appendix I to the Handbook as a result of the FATF’s announcement. Ghana is no longer under increased monitoring by the FATF having addressed its AML/CFT deficiencies.
A small number of changes have also been made to the rule and guidance in section 4.8.3 of the Handbook regarding collective investments schemes traded on a recognised stock exchange to include open-ended schemes such as an exchange-traded fund.
The updated Handbook, appendices, the instruction and the latest FATF notice can be accessed via the below links: