Aside from the reputational damage being on the blacklist constitute, it will also complicate financial relations with the EU, as the bloc’s banks will have to carry out additional checks on payments involving entities from the listed jurisdictions. On Wednesday 13 2019, the EU added other jurisdictions to a blacklist of nations seen as posing a threat because of lax controls on terrorism financing and money laundering.
The criteria used to blacklist countries are low sanctions against money laundering, financial terrorism and lack of transparency regarding company beneficiaries. The list now includes 23 jurisdictions, up from 16.
Top 3 Countries Added On The EU’s Dirty-Money Blacklist
- Nigeria
- Saudi Arabia
- Panama
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