US Treasury Department Criticizes EU's List of High-Risk Countries
“They threw so much shade on the European Commission,” said one international trade lawyer. The Treasury Department not only dismissed the list as being based on flimsy methodology, it also suggested that U.S. financial institutions ignore it.
February 13, 2019 at 05:28 PM
4 minute read
The European Commission has released a new list of jurisdictions that pose a high risk because they don't do enough to prevent money laundering and terrorism financing—and the U.S. Treasury Department is displeased.
The Treasury Department rejected the list on Wednesday, the same day the list was published, and advised stateside financial institutions to do the same.
The list of 23 countries includes the U.S. territories of American Samoa, Guam, Puerto Rico and the U.S. Virgin Islands. Afghanistan, Iran, Iraq, Syria and Yemen also appear on the list. As does the Bahamas.
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