EU BLACKLIST A NUMBER OF AFRICAN COUNTRIES

The European Union (EU) blacklist a number of African countries due to money laundering, and their support for terrorism.

Some African countries have made their way into the European Union’s EU blacklist. The reason for blacklisting them includes money laundering, support for terrorism and others. The countries which were on Wednesday included in the EU blacklist are Saudi Arabia, Panama, Libya, Nigeria and others.

These countries now increases the total number of African countries in EU Blacklist to 23.  These are countries with weak rules concerning money laundering and also terrorism financing.

The EU commissioner for justice and gender equality Vera Jourova said,  “The EU financial system must not serve as a vehicle for money laundering and must not serve as an instrument for financing crime including terrorism.  He also said the EU must not be a destination for illicit money.”

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