MONEY LAUNDERING AND TERRORIST FINANCING: EU COUNCIL RETURNS DRAFT LIST OF HIGH-RISK COUNTRIES TO THE COMMISSION

A news release on 7 March advised that the EU Council had unanimously decided to reject a draft list put forward by the Commission of 23 “high-risk third countries” in the area of money laundering and terrorist financing; the Council saying that it cannot support the current proposal that was not established in a transparent and resilient process that actively incentivises affected countries to take decisive action while also respecting their right to be heard.  The Commission will now have to propose a new draft list of high-risk third countries that will address Member States’ concerns.

https://www.consilium.europa.eu/en/press/press-releases/2019/03/07/money-laundering-and-terrorist-financing-council-returns-draft-list-of-high-risk-countries-to-the-commission/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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