The European Union is determined to reduce the flow of capital from unknown sources and money laundering. Last Wednesday it published a list of 23 countries that it blacklisted because they are considered high risk money laundering and terrorist financing. Six African countries were pinned for this purpose.
Botswana, Ethiopia, Ghana, Libya, Nigeria and Tunisia are in the sights of the European Union. These 6 African countries have been blacklisted by high-risk countries in terms of money laundering and terrorist financing.
It is for Brussels to draw the attention of these countries to their still insufficient efforts in the fight against financial crimes. These countries will have to increase their resources and refine their strategies in this area. They will also have to submit to close European supervision. If not, they may be deprived of certain sources of funding.
Movements of funds from or to these 23 countries will be monitored, and the European Union has assured that it has made all the necessary arrangements for this support in order to obtain convincing results.
“We have the most stringent anti-money laundering standards in the world, but we need to ensure that dirty money from other countries does not end up in our financial system. Dirty money is the engine of organized crime and terrorism. I invite the countries on the list to remedy their shortcomings quickly. The Commission is ready to work closely with them in order to solve these problems in our mutual interest, “said Věra Jourová, Commissioner for Justice, Consumers and Gender Equality in the EU.