EU Justice Commissioner, Vera Jourova has said that the European Commission will overhaul its proposed anti-money laundering blacklist so that it secures the backing of EU member states.
In a blow to the commission, member states were unanimous in formally rejecting on Thursday a draft proposal listing 23 states and jurisdictions for allegedly not doing enough to combat money laundering and terrorist financing.
Member states said that the proposal was not established in a transparent and resilient process that actively incentivises affected countries to take decisive action while also respecting their right to be heard.
Jourova said she was disappointed,but pledged the commission would go back to member states to address concrete concerns.
That effort will lead to a list “that will not be put into question,” she added.
The names on the contested list include Saudi Arabia, several U.S. territories, Panama, and conflict-ravaged states such as Afghanistan, Iraq, Syria and Yemen.
