Regulation 19 Amendment of regulation 33 (obligation to apply enhanced customer due diligence)

In regulation 33^f1—

(a)

in paragraph (1)(b), for “high-risk third country”, in both places it occurs, substitute “FATF call for action country”;

(b)

in paragraph (1)(f)(i), for “complex or unusually large” substitute “unusually complex or unusually large in each case given the nature of the transaction”;

(c)

in paragraph (3)(a), for the definition of “high-risk third country” substitute—

“a “FATF call for action country” means a country named on the list of High-Risk Jurisdictions subject to a Call for Action published by the Financial Action Task Force as such list has effect from time to time^f2;”.

Annotations

Footnotes

f1: Paragraph (1)(b) of regulation 33 was amended by S.I. 2019/1511; paragraph (1)(f) of regulation 33 was substituted by S.I. 2019/1511; paragraph (3)(a) was substituted by S.I. 2019/1511, S.I. 2021/392 and S.I. 2024/69; .
f2: The list of High-Risk Jurisdictions Subject to a Call for Action published by the Financial Action Task Force as it has effect from time to time is available at https://www.fatf-gafi.org/en/topics/high-risk-and-other-monitored-jurisdictions.html. A hard copy of the list is available on request from HM Treasury at 1 Horse Guards Road, London SW1A 2HQ.