EU: Committees put pressure on the Commission to add more countries to blacklist

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The European Parliament’s Economic and Justice Committees have rejected the EC’s projected blacklist of jurisdictions at high propensity for money laundering, for the second time. Members of the parliament contended that the rejected list, proposed as per the EU AML Directive, is influenced too heavily on the international FATF (Financial Action Task Force) and should have a broader spectrum of jurisdictions as opposed to the Commission recommended 11. The resolution will be decided further upon by a quorate session of the European Parliament.