The SFC sets out below a list of eligible jurisdictions that clients may maintain bank accounts with for first payments and ongoing fund movements for the purpose of remote client onboarding by intermediaries. In setting out the eligible jurisdictions, the SFC takes into account the results of the FATF's mutual evaluation(Note). The SFC will update the list of eligible jurisdictions where appropriate.
For the avoidance of doubt, any removal of a jurisdiction from the list does not have retrospective effect.
Note: The Financial Action Task Force (FATF) conducts peer reviews of each member on an ongoing basis to assess the implementation of the FATF Recommendations, providing an in-depth description and analysis of each jurisdiction's system for preventing criminal abuse of the financial system.
Eligible jurisdictions (with effect from 5 July 2019):
15. United Kingdom
16. United States of America
Last update: 29 Sep 2020