Country Risk Ratings Effective 8th July 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." Jamaica and Turkiye were removed from the list, while Monaco and Venezuela were added.
- The United Kingdom lifted sanctions on Burundi.
- The US Department of State's latest Country Report on Terrorism removed Cuba and Egypt from the list of terrorist safe havens while adding Niger within the Sahel region.
We reworked how safe haven regions are used in our methodology and now explicitly list the safe havens within the Lake Chad region, which adds Cameroon, Chad, Niger, and Nigeria.
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.
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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.
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