uksi/2022/782 — The Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) (No. 2) Regulations 2022

2022 No. 782 Financial Services The Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) (No. 2) Regulations 2022 Approved by both Houses of Parliament Made at 2.45 p.m. on 11th July 2022 Laid before Parliament at 5.00 p.m. on 11th July 2022 Coming into force 12th July 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. 2) Regulations 2022. 2 These Regulations come into force on 12th July 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 Gibraltar 8 Haiti 9 Iran 10 Jamaica 11 Jordan 12 Mali 13 Morocco 14 Myanmar 15 Nicaragua 16 Pakistan 17 Panama 18 Philippines 19 Senegal 20 South Sudan 21 Syria 22 Turkey 23 Uganda 24 United Arab Emirates 25 Yemen . Gareth Johnson Michael Tomlinson Two of the Lords Commissioners of Her Majesty’s Treasury At 2.45 p.m. on 11th July 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 ) and the Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) Regulations 2022 ( S.I. 2022/393 ). On the new list, Malta is no longer classed as a high-risk third country for the purposes of enhanced customer due diligence requirements in regulation 33(3). Gibraltar is now classed as a high-risk third country 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.