News

European Union lawmakers add Lanka into money laundering blacklist

9 February 2018 - 225   - 0

European Union lawmakers who recently voted in favour of including Tunisia onto the bloc’s list of countries considered at high risk of money laundering and terrorism financing have also included Sri Lanka and Trinidad and Tobago into the blacklist.

After Wednesday’s decision, Parliament may meet to discuss the EU money laundering blacklist again when the Financial Action Task Force (FATF) next updates its own money laundering/terrorism financing blacklist, a Parliament spokesman told KYC360.

Parliament will continue using the FATF list methodology to decide which countries should be discussed for blacklisting until later this year, when it will start using its new methodology agreed with the European Commission (EC).

At present there are no plans to change the methodology for the EU money laundering/terrorism financing grey list,  the spokesman was quoted as saying in the report.

The present grey list will continue to enlist the same countries FATF has on its list.

As part of the EU’s Anti-Money Laundering Directive, the EC drafts a list of “high-risk third countries,” but Parliament has veto power over the list. For several months, the EC and Parliament disagreed over the list.

 

  Comments - 0

  • Leave a comment

Top Stories

Two youths seriously injured in accident

A head-on collision between a motorbike and a car left two youths seriously injured yesterday (24). Both the injured were traveling in the motorbik...

25 May 2018 - Views : 65

Sri Lanka accepts $1 bln, 8-yr syndicated loan from China Dev Bank

25 May 2018

Dhananjaya withdraws from WI tour after father's murder

25 May 2018

Trump nominates Alaina B Teplitz as US Ambassador to Sri Lanka

25 May 2018



style="display:inline-block;width:300px;height:250px"
data-ad-client="ca-pub-6200193111498313"
data-ad-slot="1999573490">

 

Features & Analysis

Celebrity Chef Nigel Lawson to tour Sri Lanka

Nigella Lawson has inspired and nurtured home cooks around the world with her relaxed and accessible cooking style an...

English Writers Collective workshop on the Short Story

A half day workshop on the Short Story by the English Writers Collective (EWC) will be held on Saturday, June 9, at t...

In pictures : Asymmetry

The cast of Silent Hands recently presented Ric Robinson’s Asymmetry, a story of human relationships that ...

'Superman' star Margot Kidder dead at 69

Margot Kidder, best known for her role as Lois Lane in the "Superman" films of the 1970s and 80s, has di...



style="display:inline-block;width:300px;height:250px"
data-ad-client="ca-pub-6200193111498313"
data-ad-slot="1999573490">