PROHIBITED AND RESTRICTED COUNTRIES
To effectively combat the global circulation of dirty money, international efforts are needed. The Financial Action Task Force (FATF), the global standard setter on anti-money laundering and counter terrorism financing, notably identifies jurisdictions having strategic deficiencies in their regimes to counter money laundering and terrorist financing. The Banc’s prohibited/restricted countries list takes into account the recommendations provided by FATF.
The following jurisdictions are identified as having serious strategic deficiencies in their AML/CFT regimes and/or countries to which the Banc will NOT process wires to or from:
- Democratic People’s Republic of Korea (DPRK, North Korea)
- Iran
- Myanmar (Burma)
- Russia
- Cuba
The following jurisdictions are identified as having strategic deficiencies in their AML/CFT regimes and/or are considered restricted by the Banc. Wires to or from these countries may require enhanced due diligence, such as supporting documentation for the wire prior to processing.
- Afghanistan
- Algeria
- Angola
- Belarus
- Barbados
- Bulgaria
- Burkina Faso
- Cameroon
- Côte d’Ivoire
- Crimea
- Croatia
- Democratic Republic of Congo
- Gibraltar
- Haiti
- Israel
- Iraq
- Jamaica
- Kenya
- Lebanon
- Libya
- Mali
- Monaco
- Mozambique
- Namibia
- Nigeria
- Palestine
- Panama
- Philippines
- South Africa
- South Sudan/Sudan
- Syria
- Tanzania
- Trinidad and Tobago
- Uganda
- Ukraine
- United Arab Emirates
- Vanuatu
- Venezuela
- Vietnam
- Yemen