Country Risk Ratings Effective 11th November 2024
We have reviewed the country risk ratings based on our Country Risk Methodology.
What changed?
- The FATF published an updated list of Jurisdictions under Increased Monitoring, also referred to as the "grey list." Senegal was removed from the list, while Algeria, Angola, Côte d'Ivoire, and Lebanon were added.
- Canada lifted sanctions on Mali.
- The US Department of State's latest INCSR Report on Money Laundering removed Benin, Morocco, Russia, and the United States from the list while adding Cambodia, Guinea-Bissau, Seychelles, and Syria.
We have reassessed our Country Risk Ratings, incorporating the above updates and have changed the country risk rating for the following countries:
Ratings for all other countries remain unchanged in this review based on our methodology.
Country Risk Rating List
Download the full list of our country risk ratings by logging into AMLA Accelerate, opening the Related Links menu and selecting Country Risk Ratings.
Want the latest country risk ratings but not a subscriber yet?
Contact us or visit https://arctic-intelligence.com/
Update your risk assessment and AML program
To reflect the new ratings in your programs, 'roll forward' your program. See this FAQ.
New country ratings are not retroactively applied to existing programs. Programs created before this update will display the country rating as of the date your program was created.
Country risk factors
We monitor 12 official international sources, including sanctions lists, to identify the various risk factors used in the Country Risk assessment.
Country risk assessment methodology
To apply a risk rating to each country, we consider all of the following criteria and more:
- Targeted financial sanctions
- Any other sanctions
- Various global AML/CTF deficiency lists
- FATF membership
Frequency of updating the Country Risk
We time our periodic review of the country risk ratings with the release dates of the source information. The release dates for source information vary, so we vary our timing to use the most up-to-date information. Updates occur at least 4 times per year.
Note: We also monitor for sanctions changes on a weekly basis, so if a new sanction is imposed, we update our ratings quickly.
Comments
0 comments
Please sign in to leave a comment.