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 12193/28), 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 frame. These countries would therefore first be included on a 'grey' list and would only move to the 'black' list if they did not implement the necessary reforms.
In April, after the Council of the EU’s decision to reject the delegated act establishing the list (see EUROPE 12204/24), a European source confirmed that the Commission's internal reflection for the new list was inspired by different processes, including the EU's 'black' and 'grey' list of non-cooperative jurisdictions from a tax point of view, which are much more compliant (see EUROPE 12232/21).
According to Reuters, Saudi Arabia - whose initial listing had been highly controversial - could also be on the 'grey' list, which would allay the concerns of some Member States.
The Commission refused to comment on the ongoing reflection process. “The Commission continues to work towards an updated assessment in consultation with the European Parliament and the Council in order to fulfil its legal obligations. There is work ongoing to refine the existing methodology with the co-legislators. At the same time, the Commission is also working with the third countries concerned given that our main aim is to improve their anti money-laundering and terrorist financing framework”, a Commission spokesperson said on Friday 12 July.
In any case, the Commission has made repeated assurances that it will present a new copy of its list (see EUROPE 12210/24) before the end of its mandate. (Original version in French by Marion Fontana)