European Commission adopts Delegated Act regarding the list of high-risk third countries with deficient AML and CTF regimes
The European Commission has adopted a Delegated Regulation to amend the list of high-risk third countries laid down in Commission Delegated Regulation (EU) 2016/1675. The Delegated Act follows the recommendations of the international standard-setter, the Financial Action Task Force (FATF). Where a country’s membership to FATF is suspended because of gross violations of FATF’s core principles, the threat to the EU financial system is likely to increase. The Delegated Act requires the Commission to conclude an assessment of whether such a country is a high risk third country by 31 December 2025. The Delegated Regulation enters into force on the 20th day of its publication in the OJ.