EUROPEAN PARLIAMENT BLOCKS MOVE TO REMOVE UAE, GIBRALTAR AND PANAMA FROM EU AML BLACKLIST
April 19th, 2024
The European Parliament has pushed the European Commission into a politically awkward position by refusing to follow FATF’s lead in removing the United Arab Emirates (UAE), Gibraltar and Panama from the European Union (EU) AML blacklist. MEPs yesterday (Tuesday April 23) voted to block a Commission delegated act stating these jurisdictions were no longer considered ‘high-risk third countries’ as regards AML. Under the fourth EU anti-money laundering directive (1), EU obliged entities are supposed to conduct enhanced CDD on transactions from such listed ...
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