From 23 January 2024, the Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) Regulations 2024, SI 2024/69 amend the definition of a high-risk third country, removing Schedule 3ZA. Instead, regulation 33(3)(a) now defines a high-risk third country as a country named on either of the following lists published by the FATF as they have effect from time to time: • High-risk jurisdictions subject to a Call for Action • Jurisdictions under increased monitoring Previously, the MLR 2017 deemed a high-risk third country a country which has been specified in the MLR 2017, Schedule 3ZA. Countries not included in the FATF lists should not automatically be considered to have effective AML, CTF and counter-proliferation financing systems. You should assess on a risk-sensitive basis all clients established anywhere in the world. See further, Practice Note: High-risk third countries tracker. This Q&A explores the concept of third country risk in relation to AML, CTF and counter-proliferation financing and provides guidance on how to assess it. What is third-country