2.1.2.4 Geography
Effective from 16/6/2021DPMS may be based, or may trade internationally, in jurisdictions that are higher risk for money laundering, the financing of terrorism, and the financing of proliferation. Such DPMS may pose heightened risk to LFIs. Higher-risk jurisdictions may be characterized by:
| • | A low level of government oversight and regulation of the precious metal and stone value chain; | |||
| • | Low economic and political stability; | |||
| • | High use of the informal banking system; | |||
| • | High levels of corruption; | |||
| • | The presence of terrorist and other non-state armed groups; | |||
| • | Weak border control measures; and/or | |||
| • | Sanctions and embargoes | |||
Where a DPMS is based in a high-risk jurisdiction, LFIs are required by AML-CFT Decision to perform Enhanced Due Diligence.