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EU Rejects Dirty-Money List After US, Saudis Protest

Law360, London (March 1, 2019, 5:44 PM GMT) -- European governments have refused to back plans for a blacklist of countries with lax anti-money laundering and terrorist financing controls including Saudi Arabia and some U.S. territories, lawmakers in the bloc said on Friday.

The European Commission added 12 countries and jurisdictions to its list of nations deemed to be failing to fight money laundering in February. The document, including Guam, Panama and American Samoa, was quickly criticized by the U.S. Treasury Department, which said the listing process was flawed.

Now 27 of the 28 EU countries have said they will not endorse the commission's attempt to draw up a list of...

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