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EU to blacklist Saudi Arabia, 22 others over money laundering failures

Jan 29, 2019 - SNL European Financials Daily

The European Commission will put Saudi Arabia, along with 22 other countries and jurisdictions, on a blacklist for failing to effectively combat money laundering and terrorist financing, the Financial Times reported.

The commission is working toward finalizing the list, which includes Libya, Panama the U.S. Virgin Islands and American Samoa, according to European Union officials, the Jan. 27 report said.

EU law will obligate European banks to carry out "enhanced" checks on money comi...