The list of high-risk countries has been updated — Guinea has been added to the list

The Financial Market Regulation and Supervision Service of Kyrgyzstan has announced an update to the list of high-risk countries in the field of countering terrorist financing and money laundering.

According to the order approved on December 17, the Republic of Equatorial Guinea has been added to the list. The basis for its inclusion was an assessment by the Basel Institute on Governance. The updated list is mandatory for all government agencies, financial institutions, and non-bank financial market entities.

In connection with the update of the list, the Financial Supervisory Service recommends:

• applying enhanced customer due diligence measures;
• paying increased attention to transactions involving high-risk jurisdictions;
• using other measures provided for by law, up to and including refusal to conduct transactions or establish business relationships.

The agency emphasizes that timely consideration of the updated list is necessary to reduce financial risks, increase the transparency of transactions, and strengthen the national AML/CFT system.

It should be noted that the list is compiled taking into account the lists of the FATF, the UN Security Council, the Basel Institute on Governance, as well as offshore jurisdictions, and is regularly reviewed.