Procedure for Forming and Publishing the List of High-Risk Countries and Territories and Measures Applied to Them

Registered by the Ministry of Justice of the Republic of Tajikistan under No. 1337 dated April 18, 2025.
Appendix to
the resolution of the Board of Directors of the National Bank of Tajikistan dated April 7, 2025, No. 54

Procedure for Forming and Publishing the List of Countries and Territories with Elevated Risk, as well as Measures Applied to Them

The Procedure for Forming and Publishing the List of Countries and Territories with Elevated Risk, as well as Measures Applied to Them (hereinafter referred to as this Procedure) is developed in accordance with Part 3 of Article 14 of the Law of the Republic of Tajikistan "On Countering the Legalization (Money Laundering) of Proceeds Obtained by Criminal Means, Financing of Terrorism and Financing of Proliferation of Weapons of Mass Destruction" (hereinafter referred to as the Law), and establishes procedures for forming and publishing the list of countries and territories with elevated risk of legalization (money laundering) of proceeds obtained by criminal means, financing of terrorism and financing of proliferation of weapons of mass destruction, as well as measures applied to such countries and territories to reduce risks.

1. GENERAL PROVISIONS
2. The following basic concepts are used in this Procedure:

• countries and territories with elevated risk – states and territories that do not apply or apply insufficiently international standards in the field of countering the legalization (money laundering) of proceeds obtained by criminal means, financing of terrorism and financing of proliferation of weapons of mass destruction, as well as offshore zones;
• offshore zones – states and/or territories that provide taxpayers (foreign individuals and legal entities) with a preferential tax regime, do not disclose and provide information on financial and other property transactions;
• accountable entities – entities specified in Article 6 of the Law;
• the Department of Financial Monitoring under the National Bank of Tajikistan (hereinafter referred to as the Department of Financial Monitoring) – an independent and specialized structural subdivision of the National Bank of Tajikistan, the goals, tasks and powers of which in the field of countering the legalization (money laundering) of proceeds obtained by criminal means, financing of terrorism and financing of proliferation of weapons of mass destruction are defined by the Law and other normative legal acts.

2. PROCEDURE FOR FORMING AND PUBLISHING THE LIST OF COUNTRIES AND TERRITORIES WITH ELEVATED RISK
3. The list of countries and territories with elevated risk is formed and updated by the Department of Financial Monitoring in the manner provided for by this Procedure.
4. The following countries and territories are subject to inclusion in the list of countries and territories with elevated risk:

• states or territories that do not fulfill or insufficiently fulfill international standards on countering the legalization of proceeds obtained by criminal means, financing of terrorism and financing of proliferation of weapons of mass destruction, as determined by the Financial Action Task Force (FATF), and regarding which calls to take measures are made;
• states or territories regarding which restrictive measures or impact measures have been introduced by a decision of the United Nations Security Council, the execution of which is mandatory for member states of the United Nations;
• states or territories with elevated risk determined by the Council of Heads of Financial Intelligence Units of States-Participants of the Commonwealth of Independent States, and regarding which calls to take measures are made;
• states or territories determined by the Basel Institute on Governance as having the highest rating (the top 10 countries with the highest score) for legalization (money laundering) of proceeds obtained by criminal means, financing of terrorism and financing of proliferation of weapons of mass destruction;
• states or territories with the highest index of terrorist activity and terrorist threat (the top 10 countries with the highest score) according to the Global Terrorism Index;
• offshore zones provided for in the appendix to this Procedure;
• states and territories identified as high-risk based on the results of risk assessments of legalization (money laundering) of proceeds obtained by criminal means, financing of terrorism and financing of proliferation of weapons of mass destruction.

4. The list of countries and territories with elevated risk is posted on the official website of the National Bank of Tajikistan in electronic format. The structure and format of the list of countries and territories with elevated risk are determined by the Department of Financial Monitoring.

5. The Department of Financial Monitoring carries out regular monitoring of the official websites of international organizations specified in paragraph 3 of this Procedure, and in the event of updates in the lists of countries and territories with elevated risk formed by them, makes corresponding changes and additions to the List of Countries and Territories with Elevated Risk within two working days.

6. Within one working day from the moment of making changes and additions to the List of Countries and Territories with Elevated Risk, the Department of Financial Monitoring posts the updated list on the official website of the National Bank of Tajikistan and sends notifications to accountable entities and supervisory authorities regarding the publication of the list with due regard for the inclusion of changes and additions to the List and the inclusion/exclusion of a country or territory from it via electronic communication channels.

7. Upon the exclusion of a country or territory from the list of countries and territories with elevated risk, the application of enhanced customer due diligence measures, or other measures provided for in this Procedure, regarding such country or territory ceases.

8. MEASURES APPLIED TO COUNTRIES AND TERRITORIES WITH ELEVATED RISK

9. Accountable entities apply enhanced customer due diligence measures when establishing business relations and/or carrying out operations (transactions) with individuals or legal entities from countries and territories with elevated risk in the manner provided for by the Law.

10. Accountable entities apply enhanced customer due diligence measures, commensurate with risks, and taking into account the recommendations of the Department of Financial Monitoring and supervisory authorities.

11. Measures applied to individuals and legal entities from countries and territories with elevated risk are determined taking into account the national interests and international obligations of the Republic of Tajikistan.

12. Accountable entities and supervisory authorities, within their competencies, apply the following measures to individuals and legal entities from countries and territories with elevated risk:

• application of enhanced customer due diligence measures when establishing business relations or conducting operations (transactions) with individuals or legal entities from countries and territories with elevated risk;
• submission to the Department of Financial Monitoring of reports on operations (transactions) with individuals or legal entities registered or operating in countries and territories with elevated risk, or conducting operations with them, regardless of the amount of the operation (transaction);
• refusal to establish business relations or conduct operations (transactions) with individuals or legal entities from countries and territories with elevated risk;
• refusal to establish or termination of correspondent banking or other similar relations with a legal entity registered in a country and territory with elevated risk;
• application of enhanced verification (supervision) and/or tightening of external audit requirements regarding branches and representative offices of a legal entity registered in a country and territory with elevated risk;
• refusal to license subsidiaries, branches or representative offices of legal entities registered in countries and territories with elevated risk;
• refusal to license a legal entity where the founder is an individual or legal entity registered in a country and territory with elevated risk;
• prohibition on accountable entities creating branches or representative offices in a country and territory with elevated risk.

12. Measures provided for in paragraph 11 of this Procedure are applied only to specific countries and territories with elevated risk, the list of which is determined by the Department of Financial Monitoring, based on public statements by the Financial Action Task Force (FATF) and other international organizations specified in paragraph 3 of this Procedure, and is posted on the website.

13. Supervisory authorities apply measures provided for in paragraph 11 of this Procedure regarding countries and territories with elevated risk in coordination with the Ministry of Foreign Affairs of the Republic of Tajikistan.

14. FINAL PROVISIONS

15. Individuals and legal entities violating the requirements of this Procedure are held accountable in the manner established by the legislation of the Republic of Tajikistan.

Appendix
to the Procedure for Forming and Publishing the List of Countries and Territories with Elevated Risk, as well as Measures Applied to Them

LIST OF OFFSHORE ZONES

1. Anguilla
2. Principality of Andorra
3. Netherlands Antilles (Kingdom of the Netherlands)
4. Antigua Island
5. Aruba (island in the Caribbean Sea)
6. Independent State of Samoa (Western Samoa)
7. Commonwealth of the Bahamas
8. Barbuda Island
9. Kingdom of Belgium
10. Belize
11. Bermuda Islands
12. British Virgin Islands
13. Republic of Guatemala
14. Grenada
15. Commonwealth of Dominica
16. Turks and Caicos Islands (territory of the United Kingdom)
17. Republic of Liberia
18. Principality of Liechtenstein
19. Cayman Islands (dependent territory of the United Kingdom)
20. Republic of Costa Rica
21. Marshall Islands
22. Isle of Man (dependent territory of the United Kingdom)
23. Principality of Monaco
24. Montserrat (dependent territory of the United Kingdom)
25. Republic of Nauru
26. Niue (dependent territory of New Zealand)
27. Gibraltar (dependent territory of the United Kingdom)
28. Republic of San Marino
29. Federation of Saint Kitts and Nevis
30. Saint Lucia
31. Saint Vincent and the Grenadines
32. Republic of Vanuatu
33. Oriental Republic of Uruguay
34. Cook Islands (New Zealand)
35. Kingdom of Bahrain
36. Republic of Barbados
37. State of Brunei Darussalam
38. Curaçao (Kingdom of the Netherlands)
39. Guernsey (dependent territory of the United Kingdom)
40. Hong Kong (Special Administrative Region of the People's Republic of China)
41. Macao (Special Administrative Region of the People's Republic of China)
42. Republic of Ireland
43. Isle of Jersey (dependent territory of the United Kingdom)
44. Lebanese Republic
45. Grand Duchy of Luxembourg
46. Labuan (Federal Territory, part of the Malaysian Federation)
47. Republic of Malta
48. Republic of Mauritius
49. New Zealand
50. Republic of Panama
51. Republic of the Philippines
52. Autonomous Region of Madeira (Portugal)
53. Seychelles
54. Republic of Singapore
55. Saint Martin
56. United Arab Emirates