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, having OFAC sanctions, or considered higher risk countries and are classified as restricted by the Banc. Wires to or from these countries may require additional due diligence, such as supporting documentation prior to processing.
- Afghanistan
- Algeria
- Angola
- Balkans
- Barbados
- Belarus
- Bulgaria
- Burkina Faso
- Cameroon
- Central African Republic
- Côte d’Ivoire
- Crimea
- Croatia
- Democratic Republic of Congo
- Gibraltar
- Haiti
- Hong Kong
- Iraq
- Israel
- Jamaica
- Kenya
- Lao PDR
- Lebanon
- Libya
- Mali
- Monaco
- Mozambique
- Namibia
- Nepal
- Nicaragua
- Nigeria
- Palau
- Palestine
- Panama
- Somalia
- Samoa
- South Africa
- South Sudan/Sudan
- Syria
- Tanzania
- Trinidad and Tobago
- Uganda
- Ukraine
- United Arab Emirates
- US Virgin Islands
- Vanuatu
- Venezuela
- Vietnam
- Yemen