On Wednesday, 9 July, Transparency International, an NGO that fights governmental corruption, found it regrettable that, despite persistent concerns, the European Parliament had failed to oppose the removal of the United Arab Emirates (UAE) from the European list of high-risk jurisdictions with regard to combating money laundering and the financing of terrorism.
Indeed, despite the fact that four motions to reject were filed, the European Parliament did not reject the delegated regulation updating the list (see EUROPE 13677/9).
For Anna Terrone—the policy officer for illicit financial flows at Transparency International EU—this vote “marks a setback for the protection of the EU’s financial system” and highlights that the current listing process “is no longer sustainable”.
According to the NGO, “While the UAE has taken some minor welcome steps in recent years, investigations continue to show that these improvements fall short.” [Ms Terrone] added, “We urge the Commission to honour its commitments and maintain a robust, structured dialogue with the UAE to encourage further progress.”
[The NGO] also notes with regret that Russia is absent from this list. (Original version in French by Anne Damiani)