OREANDA-NEWS The European Commission has published an additional list of countries with, in its assessment, a high level of risk in national anti-money laundering and terrorist financing regimes.

"Identifying and compiling a list of high-risk jurisdictions remains an essential tool for protecting the integrity of the EU financial system. After a thorough technical assessment and careful study of the concerns expressed about its latest proposal, the commission has submitted an updated EU list, which confirms our firm commitment to comply with international standards, in particular those established by the FATF (intergovernmental organization for Combating Money laundering Financial Action Task Force)," said EC Member for Financial Services Maria Luis Albuquerque.

Algeria, Angola, Venezuela, Kenya, Côte d'Ivoire, Laos, Lebanon, Monaco, Namibia and Nepal were added to the EU list. At the same time, Barbados, Gibraltar, the United Arab Emirates, Panama, the Philippines, Senegal, Uganda and Jamaica were excluded from this list.

The EC communique states that the updated EU list takes into account the work of the FATF, and in particular, its list of jurisdictions under increased control.

The resolution on the updated list will enter into force "after verification and absence of objections from the European Parliament and the Council of the EU within one month (which can be extended for another month)."