High-risk jurisdictions

The Central Bank of Iceland draws attention to jurisdictions that are considered high-risk, in accordance with Article 6 of Act no. 140/2018. If an obliged entity intends to do business with parties involving the following countries, they shall conduct enhanced due diligence in accordance with Articles 13 and 14 of Act no. 140/2018. The list of high-risk and uncooperative jurisdictions, on the one hand, is of jurisdictions which the Financial Action Task Force (FATF) has designated as high-risk jurisdictions and, on the other hand, countries which the European Union has designated as high-risk third countries.

Risky and un-cooperative jurisdictions

The following countries are considered high-risk and un-cooperative in the above sense:

• Afghanistan

• Barbados

• Bulgaria

• Burkina Faso

• Cameroon

• Croatia

• Democratic Republic of the Congo

• Democratic People's Republic of Korea (DPRK)

• Gibraltar

• Haiti

• Iran

• Jamaica

• Kenya

• Mali

• Monaco

• Mozambique

• Myanmar/Burma

• Namibia

• Nigeria

• Panama

• Philippines

• Senegal

• South Africa

• South- Sudan

• Syria

• Tanzania

• Trinidad and Tobago

• United Arab Emirates

• Uganda

• Vanuatu

• Venezuela

• Vietnam

• Yemen

Useful information

• FATF statement of 28 June 2024
  High-Risk Jurisdictions subject to a Call for Action
• FATF report of 28 June 2024
  Jurisdictions under Increased Monitoring
• Regulation no. 448/2024 amending the rules on high-risk jurisdictions for measures against money laundering and terrorist financing, no. 105/2020 (Icelandic)