MLD 4 – European Parliament rejects European Commission blacklist of states at risk of money laundering for second time.

The European Parliament has, for the second time, rejected the European Commission’s proposal to amend Commission Delegated Regulation 2016/1675 supplementing the fourth Money Laundering Directive (MLD 4).

Committee MEPs have called for the EU to have an autonomous process, separate to that of the Financial Action Task Force, for judging whether countries are at high-risk of money laundering. MEPs voted to return to the Commission its blacklist of countries deemed to be at risk of money laundering and terrorist financing on the basis that the list is too limited and should be expanded, e.g. to include territories that facilitate tax crimes.

A copy of the press release is available. http://bit.ly/2qXoCil