Update / List of States with high risk of money laundering, terrorist financing and corruption (March 2023)

Pursuant to the FATF's update of its list of countries under enhanced scrutiny due to deficiencies in the AML/CFT system, Ministerial Oder No. 2023-150 of 14 March 2023 amends Ministerial Order 2021-703 of 8 November 2021.

The list of States or territories whose anti-money laundering, combating the financing of terrorism or corruption systems show strategic deficiencies (high-risk States or territories: HRT) has been updated and is as follows:

Legend : Addition

• Afghanistan
• Albania
• Barbados
• Burkina Faso
• Cambodia
• United Arab Emirates
• Gibraltar
• Haiti
• Cayman Islands
• Democratic Republic of the Congo
• Jamaica
• Jordan
• Mali
• Morocco
• Mozambique
• Myanmar/Burma
• Nicaragua
• Nigeria
• Uganda
• Pakistan
• Panama
• Philippines
• Senegal
• South Africa
• South Sudan
• Syria
• Tanzania
• Trinidad and Tobago
• Turkey
• Vanuatu
• Yemen
• Zimbabwe

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The legal basis for this list is Art. 14-1 of Law 1.362 (created by Law 1.503 of 23 December 2020), which states that:

"States or territories whose anti-money laundering, combating the financing of terrorism or corruption systems present strategic deficiencies that pose a significant threat to the proper functioning of the financial system, shall be considered as high risk States or territories.

The list of these States or territories is determined by ministerial order. This ministerial order is published on the website of the Service d'Information et de Contrôle sur les Circuits Financiers".

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Source:

Decision to place South Africa and Nigeria on the Enhanced Surveillance List taken by the Financial Action Task Force at its plenary meeting on 22-24 February 2023. More information > https://www.fatf-gafi.org/en/publications/High-risk-and-other-monitored-jurisdictions/Increased-monitoring-february-2023.html