uksi/2022/1183 — The Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) (No. 3) Regulations 2022

2022 No. 1183 Financial Services The Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) (No. 3) Regulations 2022 Approved by both Houses of Parliament Made at 11.15 a.m. on 14th November 2022 Laid before Parliament at 16.00 p.m. on 14th November 2022 Coming into force 15th November 2022 The Treasury, in exercise of the powers conferred by section 49 of, and paragraphs 4 and 23 of Schedule 2 to, the Sanctions and Anti-Money Laundering Act 2018 , make the following Regulations. Citation and commencement 1 1 These Regulations may be cited as the Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) (No. 3) Regulations 2022. 2 These Regulations come into force on 15th November 2022. Amendment of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 2 1 The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 are amended as follows. 2 For Schedule 3ZA (high-risk third countries) substitute— SCHEDULE 3ZA High-Risk Third Countries Regulation 33(3) 1 Albania 2 Barbados 3 Burkina Faso 4 Cambodia 5 Cayman Islands 6 Democratic People’s Republic of Korea 7 Democratic Republic of the Congo 8 Gibraltar 9 Haiti 10 Iran 11 Jamaica 12 Jordan 13 Mali 14 Morocco 15 Mozambique 16 Myanmar 17 Panama 18 Philippines 19 Senegal 20 South Sudan 21 Syria 22 Tanzania 23 Turkey 24 Uganda 25 United Arab Emirates 26 Yemen . Nigel Huddleston Amanda Solloway Two of the Lords Commissioners of His Majesty’s Treasury At 11.15 a.m. on 14th November 2022 EXPLANATORY NOTE (This note is not part of the Regulations) These Regulations amend the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ( S.I. 2017/692 ) (“the MLRs”) by substituting the list of high-risk third countries in Schedule 3ZA for a new list. Schedule 3ZA was originally inserted into the MLRs by the Money Laundering and Terrorist Financing (Amendment) (High-Risk Countries) Regulations 2021 ( S.I. 2021/392 ) and was subsequently amended by the Money Laundering and Terrorist Financing (Amendment) (No. 2) (High-Risk Countries) Regulations 2021 ( S.I. 2021/827 ), the Money Laundering and Terrorist Financing (Amendment) (No. 3) (High-Risk Countries) Regulations 2021 ( S.I. 2021/1218 ), the Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) Regulations 2022 ( S.I. 2022/393 ) and the Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) (No. 2) Regulations 2022 ( S.I. 2022/782 ). On the new list, Nicaragua and Pakistan are no longer classed as high-risk third countries for the purposes of enhanced customer due diligence requirements in regulation 33(3). Democratic Republic of the Congo, Mozambique and Tanzania are now classed as high-risk third countries for the purposes of enhanced customer due diligence requirements in regulation 33(3). A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen.