AML regulations by country

Yes. The FATF Recommendations require all member jurisdictions to extend AML obligations to Designated Non-Financial Businesses and Professions (DNFBPs). While the specific scope and intensity of regulation varies by country, the core obligations of customer due diligence, sanctions screening, suspicious activity reporting, and record-keeping apply in virtually every jurisdiction that follows FATF standards.

Businesses operating across borders must comply with the AML regulations of each jurisdiction in which they have a presence or conduct business. This often means screening against multiple sanctions lists simultaneously and meeting the most restrictive applicable requirements. Cross-border compliance requires understanding jurisdictional triggers, including the extraterritorial reach of sanctions regimes like OFAC.

The applicable sanctions lists depend on where your business is incorporated, where your customers are located, what currencies you transact in, and whether any transactions have a nexus to specific jurisdictions (particularly the US). Most businesses should screen against OFAC SDN, EU Consolidated, UN Security Council and UK Sanctions List at minimum.

Yes. Countries on the FATF grey list have been identified as having strategic deficiencies in their AML/CFT regimes. Business relationships involving grey-listed jurisdictions typically trigger enhanced due diligence requirements, including additional source of funds verification and more frequent monitoring.