Directive (EU) 2015/849 implemented by European Union to combat money laundering and terrorist financing to protect the financial system.
On 7 May 2020, the European Commission adopted a new delegated regulation in relation to third countries which have strategic deficiencies in their AML/CFT regimes that pose significant threats to the financial system of the Union (‘high-risk third countries’).
EU banks and other gatekeepers are required to apply enhanced vigilance in business relationships and transactions involving these 10 high-risk third countries.
The EU list of 10 High risk countries include
- North Korea
- Trinidad and Tobago
Read more here