CSSF Circular 22/822 on FATF High-Risk Jurisdictions and Increased Monitoring

In case of discrepancies between the French and the English texts, the French text shall prevail. CIRCULAR CSSF 22/822 1/4 Circular CSSF 22/822 FATF statements concerning

1. high-risk jurisdictions on
   which enhanced due diligence and, where appropriate, counter￾measures are imposed
2. jurisdictions under
   increased monitoring by the FATF

In case of discrepancies between the French and the English texts, the French text shall prevail. CIRCULAR CSSF 22/822 2/4 Circular CSSF 22/822 Re: FATF statements concerning

1. high-risk jurisdictions on which enhanced due diligence and, where appropriate, counter-measures are imposed
2. jurisdictions under increased monitoring by the FATF
   Ladies and Gentlemen,
   We are pleased to inform you of the jurisdictions that the Financial Action Task Force (“GAFI”) qualifies as:

• high-risk jurisdictions subject to a call for action, or
• jurisdictions under increased monitoring by the FATF.
  Through its Plenary meetings, which are held in general three times a year, the FATF updates its Public Statement which identifies the jurisdictions concerned.

1. High-risk jurisdictions on which enhanced due diligence and, where
   appropriate, counter-measures are imposed “High-risk jurisdictions” are jurisdictions which have, according to the FATF, significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For these countries, the FATF calls on all its members and urges all jurisdictions to apply enhanced due diligence. In the most serious cases, the FATF calls on countries to apply counter-measures to protect the international financial system from the money laundering, terrorist financing, and proliferation financing (ML/TF/PF) risks emanating from these countries.
2. Jurisdictions under increased monitoring by the FATF
   Jurisdictions under increased monitoring by the FATF are actively working with the FATF to address strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing. The countries concerned have committed to FATF to resolve swiftly the identified strategic deficiencies within agreed timeframes. The FATF as well as the FATF-style regional bodies (FSRBs) continue to work with the jurisdictions in question, which, in turn, report the progress achieved in addressing their strategic deficiencies. Progress is thus closely monitored. As regards these countries, the FATF does not call for the application of enhanced due diligence measures to be applied to these jurisdictions, but encourages its members and all jurisdictions to take into account the information presented in its statements in their risk analysis. Luxembourg, 26 October 2022 To all the persons and entities under the supervision of the CSSF

CIRCULAR CSSF 22/822
1/4
Please refer to the FATF’s full decisions and statements regarding high-risk jurisdictions subject to a call for action and jurisdictions under increased monitoring at the following address:
https://www.fatf-gafi.org/publications/high-risk-and-other-monitored￾jurisdictions/?hf=10&b=0&s=desc(fatf_releasedate) This circular shall be without prejudice to any other considerations to be taken into account with respect to high-risk countries, notably those of the relevant European authorities1. The jurisdictions referred to in parts (1) and (2) above, as well as the relevant measures to be adopted against them, are listed in the annex to this circular. This annex, which is published and updated on the CSSF’s website, shall be regularly consulted by the persons and entities concerned. This circular repeals Circular CSSF 22/815 of 22 June 2022. Yours faithfully, Claude WAMPACH Director Marco ZWICK Director Jean-Pierre FABER Director Françoise KAUTHEN Director Claude MARX Director General 1 EUR-Lex - 32016R1675 - EN - EUR-Lex (europa.eu)

CIRCULAR CSSF 22/822
2
/
4
Commission de Surveillance du Secteur Financier 283, route d’Arlon L-2991 Luxembourg (+352) 26 25 1 - 1 direction@cssf.lu www.cssf.lu