EU TO BEEF UP SCRUTINY OF MONEY LAUNDERING RISKS AND ADD PANAMA TO LIST

On 5 May, Reuters reported that a document adds Panama and other countries to an existing blacklist but spares Saudi Arabia and US territories that had been put on an earlier list before being shelved in the face of objections – with a list said to contain 22 jurisdictions (up from 16), adding Panama, the Bahamas, Mauritius, Barbados, Botswana, Cambodia, Ghana, Jamaica, Mongolia, Myanmar, Nicaragua and Zimbabwe.  Another proposal, still subject to changes, says the EU could set up by 2023 a common supervisory body in charge of carrying out inspections at banks and possibly empowered to impose sanctions and identify suspicious payments.

https://www.reuters.com/article/us-eu-moneylaundering-blackslist/eu-to-beef-up-scrutiny-of-money-laundering-risks-adds-panama-to-list-idUSKBN22H1ZA

 

 

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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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