Saudi Arabia put on EU blacklist for money laundering failures | Financial Times:
Brussels will name Saudi Arabia on a blacklist of countries and jurisdictions that are failing in the fight against money laundering and terrorist financing, a move that will require European banks to carry out intrusive vetting of customers from the Gulf state.
EU officials said the European Commission was in the final stages of adopting the 23-country list, which is likely to be politically contentious and will accuse governments of “strategic deficiencies” in their efforts to combat dirty money.
Also on the list is the US Virgin Islands, American Samoa, Libya and Panama, although Russia is not listed despite revelations last year of billions in criminal funds being transferred from the country through EU banks. EU officials said Russia was being kept under review.
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