The European Commission has adopted an action plan for an EU policy on preventing money laundering and terrorist financing. It wants to deliver, by early 2021:
- effective implementation of existing rules
- a single EU rulebook
- EU-level supervision
- support and co-operation mechanism for FIUs
- better use of information to enforce criminal law and
- a stronger EU in the world
Among the supporting publications are a revised methodology for identifying high-risk third countries and an updated list of high-risk third countries. The new list adds the Bahamas, Barbados, Botswana, Cambodia, Ghana, Jamaica, Mauritius, Mongolia, Myanmar, Nicaragua, Panama and Zimbabwe to the list, where they join Afghanistan, Iraq, Pakistan, Syria, Trinidad & Tobago, Uganda, Vanuatu and Yemen. It removes Bosnia – Herzegovina, Ethiopia, Guyana, Lao, Sri Lanka and Tunisia from the list. It asked for comments on its plan by 29 July. Update: on 9 July, this deadline was extended to 26 August.