The European Commission, which must present a new list of third countries with anti-money laundering measures which have weaknesses that threaten the European financial system (see EUROPE B12193A28), would also consider a 'grey' list, Reuters reported on Thursday 11 July, after accessing a confidential document.
The process under consideration would be based on a step-by-step approach, whereby countries at risk should commit to changing their rules and practices within a specified time...