Treasury has updated its periodic AML advisory notice to reflect the conclusions from the FATF plenary meeting. The notice reiterates the expectation that firms will:
- apply EDD and countermeasures in respect of North Korea
- apply EDD in respect of Iran and
- take appropriate measures to minimise risks in respect of the Bahamas, Botswana, Ethiopia, Ghana, Pakistan, Serbia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia and Yemen