High Risk Countries
In accordance with the standards of the Financial Action Task Force (FATF), specifically Recommendation (19) related to high-risk countries, financial entities and non-financial entities subject to the provisions of the Anti-Money Laundering and Terrorist Financing Law No. (20) of 2021 in force, must be obligated to apply enhanced due diligence measures, so that it is effective and proportionate to the degree of risk, to business relationships and operations conducted with natural or legal persons (including financial institutions) from the categories of countries against which the FATF calls for taking that measure and other countermeasures that have a similar effect in mitigating risks.
Countries should also be able to take countermeasures independently of any call by the FATF.
Based on the decision of the National Committee for Combating Money Laundering and Terrorist Financing No. (6/2020) dated 6/8/2020 regarding high-risk countries, the following was decided:
First: The following countries are classified as high-risk countries for the purposes of implementing anti-money laundering and terrorist financing instructions, according to the following categories:
Category 1: High-risk countries (Blacklist):
These are countries that have strategic deficiencies in the system to combat money laundering, terrorist financing and proliferation, and against which the FATF calls on all member states to take countermeasures.
To view the electronic link on the official website of the Financial Action Task Force (FATF), which issues this list periodically, including the procedures it decides in this regard Click here 
Category 2: Countries under increased monitoring (Gray list):
These are the countries that are working with the Financial Action Task Force to address the deficiencies in their systems to combat money laundering, financing of terrorism, and proliferation. These countries pledge to follow the specific action plan to address their deficiencies.
To view the electronic link on the official website of the Financial Action Task Force (FATF), which issues this list periodically Click here
Category 3: Countries subject to sanctions by the Security Council:
These are the countries that are subject to sanctions by the UN Security Council in accordance with resolutions issued by the Security Council through which restrictions are imposed on the activities, operations and business relationships that take place with natural and legal persons from these countries. To view them under the Sanctions Committees item, Click here
Category 4: Tax Haven Countries:
These are the countries and territories that charge the lowest tax rate for non-residents and do not share any financial or banking information with foreign tax authorities, according to the Financial Secrecy Index issued by the Tax Justice Network. To view, Click here
Category 5: Countries with the highest Corruption Crimes:
These are the countries included in the Corruption Perceptions Index issued by Transparency International, which classifies countries and regions based on the extent of perception of corruption in the public sector. It is a composite index that relies on numerous surveys and studies and is based on corruption-related data collected by a variety of reliable institutions. This index reflects the view by observers from around the world, to view, Click here
Second: All reporting entities stipulated in the Anti-Money Laundering and Terrorist Financing Law No. (20) of 2021 in force, must take into account concerns related to the deficiencies in the anti-money laundering and terrorist financing systems in the above-mentioned countries categories regarding business relationships and operations that are conducted with natural or legal persons (including financial institutions), and to take the necessary measures in proportion to the degree of risk that is determined.
Based on (FATF) Lists:
- Jurisdictions subject to a FATF call on its members and other jurisdictions to apply counter-measures to protect the international financial system from the on-going and substantial money laundering and terrorist financing (ML/FT) risks emanating from the DPRK.
For more information: Click here
- Jurisdiction subject to a FATF call on its members and other jurisdictions to apply enhanced due diligence measures proportionate to the risks arising from the jurisdiction.
For more information: Click here
- Jurisdictions Under Increased Monitoring
For more information: Click here