ARTICLE · 06 MARCH 2023

EU Updates AML/CFT Blacklist And Adds Five Countries

Chevalier & Sciales

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The European Commission has issued a new regulation to amend Delegated Regulation (EU) 2016/1675 by adding the Democratic Republic of the Congo, Gibraltar, Mozambique ...

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Chevalier & Sciales

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The European Commission has issued a new regulation to amend Delegated Regulation (EU) 2016/1675 by adding the Democratic Republic of the Congo, Gibraltar, Mozambique, Tanzania and the United Arab Emirates to Table I of the Annex and deleting Nicaragua, Pakistan, and Zimbabwe from that table. The regulation is aimed at ensuring the effective protection of the integrity and proper functioning of the financial system and the internal market of the Union from money laundering and terrorist financing.

The European Union has been identifying countries with strategic deficiencies in their regimes on Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) that pose significant threats to the financial system of the Union. In line with Article 9(4) of Directive (EU) 2015/849, the Commission takes the recent available information into account, in particular recent Financial Action Task Force (FATF) Public Statements, the FATF list of 'Jurisdictions under

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