HM Treasury has issued a statement on money laundering controls in overseas jurisdictions. The statement, which constitutes advice, relates to the risks posed by unsatisfactory money laundering controls in a number of jurisdictions. Part A of the advice reiterates that regulated firms should treat transactions with Iran as high risk and also highlights that Angola, the Democratic People's Republic of Korea, Ecuador and Ethiopia have strategic anti-money laundering/terrorist financing deficiencies and, as of February 2010, have failed to engage with Financial Action Task Force (FATF) on these. Attention is also drawn to deficiencies in the AML/CFT regimes of Pakistan, Turkmenistan, São Tomé and Príncipe.
Part B lists additional jurisdictions with deficiencies in their AML/CFT regimes which have developed an action plan with FATF. The FSA has also published a statement for authorised or registered firms that deal with these jurisdictions.