HM Treasury advises UK-regulated firms to apply EDD and ongoing monitoring to any business relationship or transaction involving High-Risk Third Countries, in line with FATF’s revised lists

UK firms must apply enhanced due diligence and ongoing monitoring to all customers and transactions linked to high-risk third countries, tailoring the intensity based on risk factors and FATF findings. Additionally, group-wide controls require branches and subsidiaries in weaker AML jurisdictions to implement UK-equivalent measures to ensure consistent compliance…