[ 2019-03-08 ]

EU nations reject Commission's money laundering blacklist
European Union member states have unanimously
rejected a proposal by the EU executive Commission
to blacklist 23 countries and territories it
believes pose a high risk of money laundering or
terrorist financing.

In a rebuke for the EU Commission, the member
states said in a statement Thursday that the
proposal "was not established in a transparent and
resilient process."

The list included such nations like Saudi Arabia,
North Korea and Nigeria, and four U.S. overseas
territories, which drew the ire of the U.S.
government.

The list is used to increase checks and
investigations on financial transactions from
those countries and territories to find suspicious
money flows.

The EU Commission will now have to set up a new
list and take the concerns of the member states
into consideration.

Source - usnews

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