The European Commission has recently updated its list of high-risk third-country jurisdictions with strategic deficiencies in anti-money laundering and counter-terrorist financing (AML/CFT) frameworks. These updates are crucial for financial institutions operating under EU rules — including Swiss-based payment companies with ties to the EU market.
Newly Listed Countries
The following jurisdictions were added to the list:
Algeria, Angola, Côte d’Ivoire, Kenya, Laos, Lebanon, Monaco, Namibia, Nepal, and Venezuela.
The EU delisted:
Barbados, Gibraltar, Jamaica, Panama, the Philippines, Senegal, Uganda, and the United Arab Emirates.
Why This Matters
Entities under the EU AML framework must apply enhanced due diligence when transacting with high-risk countries. This may involve stricter KYC, more documentation, and slower processing.
This list aligns with the global efforts of the Financial Action Task Force (FATF) — the international standard-setter in AML/CFT since the late 1990s. The EU, a founding FATF member, closely tracks FATF’s monitoring (“grey list”) and performs its own technical assessments, including bilateral engagement and on-site visits.
What This Means for You
If you are making or receiving payments involving the affected jurisdictions:
- You may be asked for additional information;
- Transactions may take longer;
- Enhanced compliance measures may apply.
Source: EU
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