MLD4 high risk jurisdiction legislation in OJEU

The Commission Delegated Regulation on identifying high risk jurisdictions for the purposes of MLD4 has been published in the OJEU. The Regulation lists high risk third countries, in line with FATF designations. So North Korea has repeatedly failed to address identified deficiencies, Iran is seeking technical assistance for its high-level political commitment to address its deficiencies, while Bosnia and Herzegovina, Guyana, Iraq, Lao PDR, Syria, Uganda, Vanuatu and Yemen have developed an action plan to address deficiencies. All “obliged persons” under MLD4 should apply enhanced due diligence in any relationship with persons and entities established in any of these countries.


Emma Radmore