MEPs in the European Parliament have drafted a motion for a resolution rejecting the European Commission’s proposal to remove the United Arab Emirates, Gibraltar and Panama from the list of high-risk third countries with strategic deficiencies in their Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) regimes.

As previously reported, the European Commission published a proposed regulation in March 2024 that would remove these three jurisdictions, as well as Barbados and and Uganda. The proposed regulation would also add Kenya and Namibia to the list.

The Commission had taken the decision to remove Gibraltar from its list based on information from the Financial Action Task Force, which had earlier removed the countries from its own “grey list” of high-risk countries.

Read more: investment-international.com

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