Appendix H - FATF High Risk Jurisdictions Subject to a Call for Action (2022-11-16)

Summary

This is Appendix H to the GFSC Handbook, listing jurisdictions that the Financial Action Task Force (FATF) has identified as high risk and subject to a call for action. It supports Paragraph 5(1)(c)(i) of Schedule 3, which requires firms to apply enhanced customer due diligence (ECDD) to business relationships or occasional transactions involving a relevant connection to a listed country.

• Democratic People's Republic of Korea: Listed per FATF Statement of 21 February 2020.
• Iran: Listed per FATF Statement of 21 February 2020.
• Myanmar (Burma): Listed per FATF Statement of 21 October 2022.

Firms should treat any customer or beneficial owner with a relevant connection to these countries as requiring enhanced due diligence measures under Schedule 3. The list reflects FATF's own designations as of the statements cited and may be updated as FATF revises its high risk jurisdiction list.

Key obligations

• Firms must apply enhanced customer due diligence (ECDD) measures to any business relationship or occasional transaction where the customer or beneficial owner has a relevant connection to a jurisdiction listed in Appendix H (currently North Korea, Iran, and Myanmar).

Applies to

firms subject to Schedule 3 AML/CFT requirements (regulated financial services businesses)