EU added Saudi Arabia to the list of top countries for money laundering

Saudi Arabia’s Crown Prince Mohammed bin Salman G20 Press Office via AP File
Saudi Arabia’s Crown Prince Mohammed bin Salman.(AP Pic File)

As part of its crackdown on money laundering and terror financing following several recent scandals, the European Union has added Saudi Arabia to a list of 23 countries seen as havens for money laundering and the financing of terrorism.

 “ EU must not be a destination for illicit money.

“The EU financial system must not serve as a vehicle for money laundering.

“We have established the strongest anti-money laundering standards in the world, but 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. This is an invitation to address your weaknesses,” EU Justice Commissioner Vera Jourava said in a statement. 

The Saudi government retaliated it rejected the EU decision to blacklist the Kingdom among countries of dirty money.

“Saudi Arabia’s commitment to combating money laundering and the financing of terrorism is a strategic priority”, a statement published by the Saudi Press Agency said.

The European Commission added also  Panama and Nigeria to the blacklist of nations seen as posing a threat by financing terrorism and money laundering.

Other newcomers to the list are Libya, Botswana, Ghana, Samoa, the Bahamas and the four United States territories of American Samoa, U.S. Virgin IslandsPuerto Rico and Guam. The other listed states are AfghanistanNorth KoreaEthiopiaIranIraqPakistan, Sri Lanka, Syria, Trinidad and Tobago, Tunisia and Yemen, according to Reuters.

Malaysia World News



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