Country Risk Ratings Effective 7th November 2023
We have reviewed the country risk ratings based on our Country Risk Methodology.
- The European Union implemented sanctions on Niger. The EU's restrictive measures consist of an asset freeze and prohibition to make funds available for individuals and entities, as well as a travel ban for individuals.
- The United Nations sanctions on Mali expired. Mali's rating remains unchanged due to other sanctions.
- The FATF published the latest Jurisdictions Under Increased Monitoring, also known as the 'grey list'. Bulgaria was added to the grey list, while Albania, the Cayman Islands, Jordan, and Panama were removed.
Indonesia became a full FATF Member.
We have reassessed our country risk ratings, incorporating the above updates.
Based on our methodology, ratings for other countries remain unchanged in this review.
Country Risk Rating List
View the full list of our financial crime country risk ratings by logging into the Risk Assessment Platform, opening the App Setup menu, selecting Country Risk Model, and then the Global tab.
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Country risk factors
We monitor 12 official international sources, including sanctions lists, to identify the various risk factors applied as part of 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.