The EU takes the UAE from the list with a risky amount of money.
The European Commission updated the list of high risks presenting strategic disabilities of their national anti-money cleansing terrorism (AML / CFT) regime.
UAE is one of eight countries taken from the list, while another 10, including Lebanon has been added to the list of high risk.
UAE EU Mount-Lachirede Bachold
The EU entities covered by AML Framework are required to apply enhanced vigilance of transactions involving these countries. This is important to protect the EU finance system.
Jurisdictions dismissed by the EU are:
- Barbados
- Abtat
- Jamaica
- Panama
- Chapter in the Philippines
- Sinehero
- Uganda
- Uae
The jurisdictions have been added to the list are:
- Algeria
- Angola
- Ivory Coast
- Kigy
- overripe
- Lebanon
- Monaco
- Namibia
- Nepal
- Venezuela
The updated list Considering the work of the Financial Action Task Force (FATF) and especially the list of “jurisdictions under the monitoring”.
As a founder member of the fat, the commission closely involved monitoring the progress of the jurisdictions, which helped them implement their respective action plans. Fat alignment is important for supporting EU commitment (enforce world standards.
The Commission said it has “carefully considered concerns that have been expressed about its previous suggestion and conducted a specified criteria, mixed information collected through the hurricanes of jurisdictions in question”.
Article 9 In the 4th anti-money laundry (4amld) ruled the Commission regularly updated the Three-Country jurisdictions.
