The European Union (EU) has listed 23 countries which it says have “strategic deficiencies in their anti-money laundering and counter-terrorist financing frameworks”.
The some of the affected countries are Nigeria, Libya, Panama and Saudi Arabia which have extensive financial dealings with Europe.
Věra Jourová, European Commissioner for Justice, Consumers and Gender Equality said while making the announcement on February 13 that:
“We have to make sure that dirty money from other countries does not find its way to our financial system.”
“Dirty money is the lifeblood of organised crime and terrorism. I invite the countries listed to remedy their deficiencies swiftly.”
Also other countries she announced are Botswana, Ghana and Libya and a host of small Pacific and Caribbean island states such as Guam, Samoa, The Bahamas and the U.S. Virgin Islands.