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.