Ghana on UK's high-risk money laundering list

According to the list published by the UK government, the countries on the list pose a threat because of weak tax controls and lack of checks and balances on terrorism financing and money laundering.

The full list of high-risk third countries includes Albania, Barbados, Botswana, Burkina Faso, Cambodia, Cayman Islands, Democratic People’s Republic of Korea, Pakistan, Iran, Jamaica, Mauritius, Morocco, Myanmar, Nicaragua, Pakistan, Panama, Senegal, Syria, Uganda, Yemen and Zimbabwe.

The list came into force on March 26, 2021 and was released as part of post-Brexit developments. Until the end of the Brexit transition period, the list of high-risk countries was determined by the European Union (EU) under the 4th Anti-Money Laundering Directive but the UK now has its own standalone list.

The list of 21 countries was published by the UK Government under "The Money Laundering and Terrorist Financing (Amendment) (High-Risk Countries) Regulations 2021"  which has been approved by both Houses of UK's Parliament.

The UK government said the new list of high-risk third countries has been issued for the purposes of enhanced customer due diligence requirements.