Tuesday, 22nd June 2021

EU places Sri Lanka on new list of high risk countries

British Asia News network- AD

Colombo: EU has put Sri Lanka on list of high risk countries where financial institutions have to perform extra due diligence which fall short of anti-money laundering criteria set by the EU.

Lanka was placed on an EU blacklist of high risk countries in 2018, with a European parliament vote confirming the draft list of the European Commission.

The European Commission, which prepares the list for vote has de-listed Bosnia-Herzegovina, Guyana, Lao PDR, Uganda and Vanuatu in 2019.

Financial Action Task Force also has placed Sri Lanka on list that has been red-flagged. But it had also indentified another 11 countries on additional EU specific findings. 

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