The European Commission today adopted its proposed new blacklist of countries that it has identified as having significant deficiencies in their anti-money laundering and counter-terrorist financing regimes, effectively expanding the number and scope of transactions upon which European financial institutions must apply enhanced customer due diligence.
“The aim of this list is to protect the EU financial system by better preventing money laundering and terrorist financing risks,” the Commission said. The EU list of high-risk third countries was first published in 2016, under a mandate by the Fourth Anti-Money Laundering Directive (AMLD 4).
