In a major move to reinforce the integrity of the EU’s financial system, the European Commission has revised its official list of high-risk third-country jurisdictions that present strategic deficiencies in their anti-money laundering and countering the financing of terrorism (AML/CFT) frameworks. This decision mandates heightened scrutiny by EU financial institutions when dealing with entities from these nations.
The latest update sees the addition of several jurisdictions, including Algeria, Angola, Côte d’Ivoire, Kenya, Laos, Lebanon, Monaco, Namibia, Nepal, and Venezuela. These countries are now officially classified as high-risk under the EU’s AML regime, meaning that EU-obligated entities—such as banks, financial service providers, and designated non-financial businesses—must apply enhanced due diligence measures when engaging in financial operations involving these nations.
At the same time, the Commission has removed eight jurisdictions from the list, namely Barbados, Gibraltar, Jamaica, Panama, the Philippines, Senegal, Uganda, and the United Arab Emirates. These removals follow demonstrated progress and compliance with the international AML/CFT standards as assessed by competent global authorities.
This recalibration aligns closely with the latest findings of the Financial Action Task Force (FATF)—the global standard-setter for AML/CFT policy. The Commission’s action draws heavily on FATF’s list of “Jurisdictions under Increased Monitoring,” commonly referred to as the “grey list.” As a founding member of the FATF, the EU plays a key role in helping listed countries fulfill their action plans and improve their financial oversight mechanisms.
In formulating the update, the Commission undertook a comprehensive technical review grounded in a defined methodology. This included not only the analysis of FATF reports but also information obtained through bilateral engagements and on-site evaluations. The Commission emphasized that the new list reflects lessons learned from previous consultations and addresses concerns raised about earlier drafts.
The update is legally enacted under Article 9 of the 4th Anti-Money Laundering Directive (AMLD IV), which requires the European Commission to regularly assess and revise the list of high-risk third countries. The changes are introduced through a delegated regulation, which is subject to scrutiny by both the European Parliament and the Council of the European Union. Unless formally opposed, the regulation will take effect after a one-month review period, extendable by an additional month.
This strategic update is part of the EU’s broader commitment to safeguard its financial system from illicit money flows and ensure consistency with global AML/CFT norms. Financial operators across the Union are urged to immediately begin implementing enhanced vigilance measures for affected jurisdictions, reinforcing the bloc’s stance as a leader in the fight against financial crime.
By FCCT Editorial Team freeslots dinogame telegram营销
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