HM Treasury Advisory Notice: New high risk third countries

IPA Insolvency Practitioner newsletter AML Digest, May 2024

A new group of countries are now deemed as high risk in relation to AML and have been added to schedule 3ZA of the 2017 Money Laundering Regulations.

The countries added to the list include Bulgaria, Nigeria, and South Africa, which are all prominent in insolvency appointments, and given the impact on Enhanced Due Diligence measures, it is essential you are abreast of all the changes. Read more in HM Treasury’s Advisory Notice here.