What is a High Risk Country Report (HRC) on goAML?
An HRC (High Risk Country Report) is a goAML report type used to report transactions connected to countries identified as high risk by the National Anti-Money Laundering and Combating the Financing of Terrorism Committee (NAMLCFTC). It lets the FIU monitor flows linked to jurisdictions with strategic AML/CFT deficiencies, including those on FATF’s lists.
Transactions touching high-risk countries also call for enhanced due diligence under the UAE framework. Federal Decree-Law No. 10 of 2025 Article 19 requires entities to apply a risk-based approach and stronger measures where risk is higher, and the reporting duty in Article 18 still applies if a transaction becomes suspicious. The HRC is distinct from an STR: it flags a geographic risk exposure, while an STR reports suspicion. Entities should keep their list of high-risk countries aligned with the Committee’s guidance and re-screen when it changes.
Legal Reference (UAE):
· Federal Decree-Law No. 10 of 2025, Article 19: risk-based approach and enhanced measures for higher risk.
· Federal Decree-Law No. 10 of 2025, Article 18: report suspicion when it arises.
For more details, consult the full text of Federal Decree-Law No. 10 of 2025 or seek guidance from your AML compliance officer.