EU Updates List of Countries With AML, Anti-Terrorism Deficiencies

The European Commission is adding multiple countries to its list of high-risk jurisdictions with “strategic deficiencies” in their national anti-money laundering and countering the financing of terrorism regimes. The additions are Algeria, Angola, Ivory Coast, Kenya, Laos, Lebanon, Monaco, Namibia, Nepal and Venezuela. The EU also will delist Barbados, Gibraltar, Jamaica, Panama, the Philippines, Senegal, Uganda and the United Arab Emirates.

EU entities must “apply enhanced vigilance in transactions” involving countries on the list, the commission said. The update will take effect if approved by the European Parliament and the European Council.