European Commission announces new list of high-risk countries

On 7 May the European Commission announced it has revised the list of high-risk third countries with strategic deficiencies in their regime regarding anti-money laundering (AML) and countering terrorist financing (CTF).

  • Countries which have been listed are: The Bahamas, Barbados, Botswana, Cambodia, Ghana, Jamaica, Mauritius, Mongolia, Myanmar, Nicaragua, Panama and Zimbabwe.
  • Countries which have been delisted are: Bosnia-Herzegovina, Ethiopia, Guyana, Lao People’s Democratic Republic, Sri Lanka and Tunisia.

The new list is not yet in force, it has to be approved by the European Parliament and Council.

The new list:

More information: EU policy on high-risk third countries.

 


Addition 15 May 2020
BaFin in its Rundschreiben of 13 May 202o does not mention the new list.

According to Andrew Rettmans the list is too short, read Why the EU anti-money laundering list is so short. He seems to mix up AML and tax evasion.

Over Ellen Timmer, advocaat ondernemingsrecht @Pellicaan

Verbonden aan Pellicaan Advocaten, http://www.pellicaan.nl/, kantoor Rotterdam, telefoon 088-6272287, fax 088-6272280, e-mail ellen.timmer@pellicaan.nl ||| Weblogs: algemeen: https://ellentimmer.com/ || modernisering ondernemingsrecht: http://flexbv.wordpress.com/ ||| Motto: goede bedoelingen rechtvaardigen geen slechte regels
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