BRUSSELS RELEASES EU BLACKLIST OF COUNTRIES WITH WEAK AML CONTROLS
July 1st, 2016
THE EUROPEAN Commission adopted today a list of high risk countries that have “strategic deficiencies” in their anti-money laundering and countering terrorist financing regimes, working under powers from the fourth anti-money laundering directive (4AMLD). Under the law, European Union (EU) banks will have to carry out additional checks on financial flows from these countries.
The Commission said while North Korea has “repeatedly failed to address the identified deficiencies,” Iran is seeking assistance to implement a Financial Action Task Force (FATF) ...
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