UK locations Ghana on high-risk cash laundering listing


The UK (UK) authorities has added Ghana to an inventory of 21 high-risk nations with unsatisfactory cash laundering and terrorist financing controls.

The list of 21 countries printed by the UK authorities below “The Cash Laundering and Terrorist Financing (Modification) (Excessive-risk nations) Rules 2021” has been authorized by each Homes of the UK’s Parliament.

The complete listing of high-risk third nations consists of Albania, Barbados, Botswana, Burkina Faso, Cambodia, Cayman Islands, Democratic Folks’s Republic of Korea, Pakistan, Iran, Jamaica, Mauritius, Morocco, Myanmar, Nicaragua, Pakistan, Panama, Senegal, Syria, Uganda, Yemen and Zimbabwe.

Based on the UK authorities, the nations on this class pose a menace due to weak tax controls and lack of test and steadiness on terrorism financing and cash laundering.

The listing got here into power on 26 March 2021 and was launched as a part of post-Brexit developments.

Till the tip of the Brexit transition interval, the listing of high-risk nations was decided by the European Union (EU) below the fourth Anti-Cash Laundering Directive however the UK now has its personal standalone listing.

The UK authorities mentioned the brand new listing of high-risk third nations has been issued for the needs of enhanced buyer due diligence necessities.

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