London Daily

Focus on the big picture.
Thursday, Jul 10, 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

0:00
0:00
Close
Severe Heatwave Claims 2,300 Lives Across Europe
NVIDIA Achieves Historic Milestone as First Company Valued at $4 Trillion
Declining Beer Consumption Signals Cultural Shift in Germany
Linda Yaccarino Steps Down as CEO of X After Two Years
US Imposes New Tariffs on Brazilian Exports Amid Political Tensions
Azerbaijan and Armenia are on the brink of a historic peace deal.
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Weinstein Victim’s Lawyer Says MeToo Movement Still Strong
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
Football Mourns as Diogo Jota and Brother André Silva Laid to Rest in Portugal
Labour Expected to Withdraw Support for Special Needs Funding Model
Leaked Audio Reveals Tory Aide Defending DEI Record
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
London Stock Exchange Faces Historic Low in Initial Public Offerings
A new online platform has emerged in the United Kingdom, specifically targeting Muslim men seeking virgin brides
Trump Celebrates Independence Day with B-2 Flyover and Signs Controversial Legislation
Boris Johnson Urges Conservatives to Ignore Farage
SNP Ordered to Update Single-Sex Space Guidance Within Days
Starmer Set to Reject Calls for Wealth Taxes
Stolen Century-Old Rolls-Royce Recovered After Hotel Theft
Macron Presses Starmer to Recognise Palestinian State
Labour Delayed Palestine Action Ban Over Riot Concerns
Swinney’s Tax Comments ‘Offensive to Scots’, Say Tories
High Street Retailers to Enforce Bans on Serial Shoplifters
Music Banned by Henry VIII to Be Performed After 500 Years
Steve Coogan Says Working Class Is Being ‘Ethnically Cleansed’
Home Office Admits Uncertainty Over Visa Overstayer Numbers
JD Vance Questions Mandelson Over Reform Party’s Rising Popularity
Macron to Receive Windsor Carriage Ride in Royal Gesture
Labour Accused of ‘Hammering’ Scots During First Year in Power
BBC Head of Music Stood Down Amid Bob Vylan Controversy
Corbyn Eyes Hard-Left Challenge to Starmer’s Leadership
London Tube Trains Suspended After Major Fire Erupts Nearby
Richard Kemp: I Felt Safer in Israel Under Attack Than in the UK
Cyclist Says Police Cited Human Rights Act for Riding No-Handed
China’s Central Bank Consults European Peers on Low-Rate Strategies
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Musk Battles to Protect Tesla Amid Trump Policy Threats
Air France-KLM Acquires Majority Stake in Scandinavian Airlines
UK Educators Sound Alarm on Declining Child Literacy
Shein Fined €40 Million in France Over Misleading Discounts
Brazil’s Lula Visits Kirchner During Argentina House Arrest
Trump Scores Legislative Win as House Passes Tax Reform Bill
Keir Starmer Faces Criticism After Rocky First Year in Power
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
×