EU MINISTERS REJECT EUROPEAN COMMISSION AML BLACKLIST
March 1st, 2019
THE EUROPEAN Union (EU) Council of Ministers has unanimously rejected a draft black-list issued by the European Commission of 23 high-risk jurisdictions deemed to have weak controls over money laundering and terrorist financing. Ministers effectively accused the Commission of approving its list in an arbitrary fashion, without giving black-listed jurisdictions a right to reply and detail reform plans that could mitigate concerns about their AML/CFT regimes.
A council statement said that his list was “not established in a transparent and resilient process that ...
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