Beautiful Virgin Islands

Tuesday, Jun 24, 2025

EU anti-money laundering blacklist to be revisited

EU anti-money laundering blacklist to be revisited

Next month, the European Union will revamp its methodology for compiling its anti-money laundering blacklist, after a previous list was blocked by EU governments that objected to the listing of Saudi Arabia and four US overseas territories,

EU Commissioner for Justice Vera Jourova told the Financial Times recently. “We have admitted this point and said we need to communicate earlier with the states that might appear on the list,” Ms. Jourova said. “That is why we are now reviewing the methodology.”

The Virgin Islands escaped the list, which was released in February, but Ms. Jourova said the new methodology is likely to yield different results, and may include a “grey list” of countries that agree to make the EU-recommended changes.

The February blacklist included 23 non-EU countries and territories - including the United States VI, Puerto Rico, American Samoa, Guam, Saudi Arabia, Panama and Nigeria - which, according to the com- mission, had “strategic deficiencies” in their anti-money laundering regimes.

However, thanks to heavy lobbying from Saudi Arabia and the US, EU governments rejected the list, criticising the way countries were selected and the short notice they were given to respond to the findings.

The list is different from the one released in March listing “non-cooperative tax jurisdictions.” This territory avoided inclusion on that list by rushing through the Economic Substance Act late last year.

However, this territory was included on the initial anti-money laundering shortlist of 54 “priority jurisdictions” the EU Commission first identified in November 2018, based on economic ties with the EU, potential impact on the EU financial system, and whether they were identified as offshore financial centres by the International Monetary Fund.

List methodology


After compiling the initial list, the commission analysed the existing threats, the legal framework, and any controls put in place by the jurisdictions to prevent money laundering and terrorist financing risks. According to the commission, it also considered the work of the Financial Action Task Force, which has compiled its own anti-money laundering blacklist. Ultimately, the EU added 11 countries to that list.

This time around, according to Ms. Jourova, the new methodology has been developed with involvement from EU governments, who claimed they had previously not been sufficiently involved, and with more communication with the countries likely to be listed.

Countries blacklisted by the EU would suffer severe consequences as banks in the EU would have to apply enhanced due-diligence measures concerning all transactions involving individuals and entities from those countries.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
BBC Demands Perplexity AI Immediately Stop Using Its Content
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
×