EU Adds Saudi Arabia, Panama To Money Laundering Blacklist

Law360, London (February 13, 2019, 5:10 PM GMT) -- The European Commission has blacklisted 12 more countries and jurisdictions for their weak money laundering and terrorist finance protections, this time singling out Saudi Arabia and Panama, a commission spokeswoman told Law360 on Wednesday.

The new additions to the blacklist, which also include Puerto Rico, American Samoa and the U.S. Virgin Islands, take the total number of rogue jurisdictions to 23, the spokeswoman said in an email. The EU’s executive arm has also blacklisted Libya, the Bahamas, Nigeria and Botswana, while taking five jurisdictions, including Bosnia-Herzegovina, Laos and Uganda, off the watchlist.

"Dirty money is the lifeblood of organized crime and...

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