Jurisdiction(s):
United Kingdom

Key definition

risk definition

What does risk mean? In legal practice, risk describes the possibility that a reasonably foreseeable circumstance or event could adversely affect legal rights, regulatory compliance, business operations, or the security of systems and data. The term is widely used across legal contexts, with certain regimes articulating it expressly. Cybersecurity: In the EU NIS2 framework (as transposed in Ireland), risk means any reasonably identifiable circumstance or event having a potentially adverse effect on the security of network and information systems. In the UK, the Network and Information Systems Regulations 2018 adopt a comparable risk‑based approach to security and incident handling; while “risk” is not defined as...

United Kingdom AML/CTF and Counter-Proliferation Financing: Current and Historic High-Risk Third Countries and Enhanced Due Diligence and Monitoring

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Precedents

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Up to date as at [ insert date ]

Both the Financial Action Task Force (FATF) and the UK government view countries in the table below as having shortcomings in their anti-money laundering (AML), counter-terrorist financing (CTF) and counter-proliferation financing frameworks.

Where a person is established in a high-risk third country, we are required to conduct enhanced due diligence (EDD) and apply enhanced ongoing monitoring for any transaction or business relationship.

Please consult our [ AML, CTF and counter-proliferation financing policy ] for further detail on EDD and enhanced ongoing monitoring.

The table that follows sets out the current jurisdictions the FATF designates as high risk.

It includes information on countries regarded as high risk for a range of reasons.

Note that countries absent from this table should not automatically be treated as having effective AML, CTF and counter-proliferation financing systems, and you should evaluate clients established worldwide on a risk-sensitive basis at all times...

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Web page updated on 22/05/2026

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