High-risk countries

In order to protect the economy and the San Marino financial system, the Law of 17 June 2008, no. 92 - implementing Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 - provides that the Republic identifies foreign jurisdictions with strategic deficiencies in their respective national regimes for preventing and combating money laundering and terrorist financing, "High risk countries".

The identification of "high-risk countries" is a useful act for the obliged parties to allow them to correctly fulfill the legal obligations and those provided by the AIF Instructions as well as a useful reference to the competent Authorities and also to public offices to identify situations of high risk potential in carrying out its activities.

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  • I - High risk countries that present continuous and substantial risks of money laundering and terrorist financing having repeatedly failed to remedy the identified deficiencies, which are reported in the FATF public declaration: Democratic People's Republic of Korea;
  • II - High-risk countries that have made a high-level political commitment to remedy the identified deficiencies and have decided to request technical assistance for the implementation of the FATF action plan, identified in the FATF public declaration: Iran;
  • III - High-risk countries that have made a high-level political commitment in writing to remedy the identified deficiencies and which have developed an action plan with the FATF: Afghanistan, Bahamas, Bosnia-Herzegovina, Botswana, Cambodia, Ethiopia, Ghana, Guyana, Iraq, Iceland, Laos, Mongolia, Pakistan, Panama, Syria, Sri Lanka, Trinidad and Tobago, Tunisia, Uganda, Vanuatu, Yemen, Zimbabwe.

 

Chronological list of high-risk countries: 2018-2019