Blacklist of states at risk of money laundering could be rejected again
MEPs could again reject a proposed list of countries thought to be at high risk of money laundering, as still inadequate.
Earlier this year, Parliament vetoed a similar list, drawn up by the EU Commission, of countries thought to be at risk of money laundering, financing terrorism or promoting tax evasion. A resolution to be voted on Wednesday says the EU should have an independent, autonomous process for judging whether countries pose a threat of financial criminality, rather than relying on the judgement of an external body.
Currently the Commission relies heavily on an international body, the Financial Action Task Force (FATF) in drawing up its list.
To be adopted, the resolution requires the votes of a majority of the component members of Parliament.
Under the EU’s Anti-Money Laundering Directive, the Commission is responsible for producing an inventory of countries thought to be at risk of money laundering, tax evasion and terrorism financing. People and legal entities from blacklisted countries face tougher than usual checks when doing business in the EU.
Vote: Wednesday, 17 May