As part of its ‘anti-money laundering’ legislative package (see other news), the European Commission proposed on Tuesday 20 July to establish a ‘grey’ list of third countries at risk of money laundering, alongside the existing ‘black’ list.
This differentiated approach should, according to the Commission, harmonise countermeasures at EU level and ensure greater proportionality in the consequences that accompany the inclusion of a country on the EU list.
“The consequences of...