Based on the Financial Action Task Force (FATF) 2012 Recommendations, reporting institutions are required to apply enhanced due diligence measure to business relationships and transactions with customers from high-risk and non-cooperative jurisdictions.

Additionally, where the FATF makes a call on its members and other jurisdictions to apply counter measures on a high-risk and non-cooperative jurisdiction having strategic AML/CFT deficiencies, reporting institutions must apply the appropriate countermeasures to customers from such jurisdiction.

To this end, the FATF issues Public Statements three times a year highlighting jurisdictions that are identified as high-risk and non-cooperative jurisdictions as well as measures and steps to be taken in dealing with customers from such jurisdictions.

For ease of reference of reporting institutions, the relevant Public Statements can be accessed from FATF.