EU puts Saudi Arabia on blacklist for lax control on money laundering

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January 28 2019

Saudi Arabia is to be included in the EU’s blacklist of countries that pose a threat to the bloc because of their lax control on money laundering and terrorism financing.

An EU source and a Saudi source told Reuters that the European Commission will name Riyadh to its blacklist, which already includes 16 states, including Iran, Iraq, Syria, Afghanistan, Yemen and North Korea, based on criteria used by the Financial Action Task Force (FATF), a Paris-based watchdog.