Apr 29, 2024

Deletion of Cayman Island and Jordan from List of High-Risk Countries by European Commission

The European Commission (‘Commission’), by way of a Commission Delegated Regulation (EU) 2024/163 dated December 12, 2023 (‘Amended Delegation Regulation’), has amended the Delegated Regulation (EU) 2016/1675 dated July 14, 2016 (‘Delegated Regulation’). The Delegated Regulation, by identifying high-risk countries with strategic deficiencies, supplements the EU Directive on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing. By this amendment, the Cayman Islands and Jordan have been removed from the list of high-risk countries with strategic deficiencies. The Commission has made this amendment to the Delegated Regulation in light of the Financial Action Task Force (‘FATF’) updating its list of ‘Jurisdictions under Increased Monitoring’, and removing the Cayman Islands and Jordan from that list at its plenary meeting in October 2023. The Amended Delegation Regulation has come into effect from February 7, 2024.




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