EU adds Barbados to money laundering blacklist

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EU adds Barbados to money laundering blacklist

(REUTERS) – The European Commission is set to include Barbados, Panama, the Bahamas, Mauritius and nine other countries to its list of states that pose a financial risk to the bloc because of anti-money laundering and terrorism financing shortfalls, a draft document shows.

The document, seen by Reuters and expected to be published on Thursday, also includes Botswana, Cambodia, Ghana, Jamaica, Mongolia, Myanmar, Nicaragua and Zimbabwe to the EU listing.

Countries on the list “pose significant threats to the financial system of the Union,” the draft document, which is still subject to changes, says.

Under EU law, banks and other financial and tax firms are obliged to scrutinise more closely their clients who have dealings with countries on the list.

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2 COMMENTS

  1. I am no fan of the EU but as a Barbadian I am here to tell you they are absolutely correct. If a country, like Barbados accepts and begs for money and they have to take it from whereever they can get it with whatever strings. BEGGARS CAN'T BE CHOOSERS. I don't know SOVEREIGNTY the poster above is referring to but apparently that poster does not know what the situation is like in Barbados.

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  2. The use of blacklists to try to extort policy results ‎in small foreign sovereign states is an open form of economic warfare and hostility — and a direct assault on the sovereignty of democratically elected governments. It is a horribly blunt instrument which is pregnant with unintended consequences.

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