After a wait of more than 18 months, EU officials on Tuesday unveiled their latest proposal to more closely align their controversial watchlist of countries with porous frameworks against illicit finance with a global "gray list" kept by the Financial Action Task Force.
If adopted, the proposal from the European Commission, the EU's executive branch, would add Nepal, Lebanon, Algeria, Angola, Ivory Coast, Laos, Monaco, Venezuela, Kenya and Namibia to the bloc's "list of high-risk third countries" and remove Barbados, Senegal, Panama, Uganda, the Philippines, Jamaica, Gibraltar and the United Arab Emirates.
The proposal represents the first official attempt to bring the EU's watchlist more in line with the gray list since April 2024, when lawmakers voted down a previous draft for no longer including the United Arab Emirates. As a result of their vote, the watchlist has remained stagnant since December 2023.
Officials delayed circulating the latest watchlist amid continued opposition in the European Parliament to removing the UAE and Gibraltar. The list must still pass muster with lawmakers and in the Council of the EU, which represents the bloc's 27 national governments, to enter into force.
- Topics: Anti-Money Laundering and Countering the Finance of Terrorism
- Source: European Union
- Document Date: June 10, 2025
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