European Commission adds Monaco to list of high AML/CFT risk countries, removes UAE

The European Commission has added 10 countries to its list of high-risk jurisdictions presenting strategic deficiencies in anti-money laundering/counter financing of terrorism (AML/CFT), including Monaco, a European microstate with which the European Union (EU) has close links. The other nine new entrants to its now 27-strong list are Algeria, Angola, Côte d'Ivoire, Kenya, Laos, Lebanon, Namibia, Nepal and Venezuela.

By Keith Nuthall

The European Commission has added 10 countries to its list of high-risk jurisdictions presenting strategic deficiencies in anti-money laundering/counter financing of terrorism (AML/CFT), including Monaco, a European microstate with which the European Union (EU) has close links. The other nine new entrants to its now 27-strong list are Algeria, Angola, Côte d'Ivoire, Kenya, Laos, Lebanon, Namibia, Nepal and Venezuela.