US voices ‘significant concerns’ over new EU money laundering blacklist

The US Treasury said on Wednesday it had "significant concerns" about the substance of a European Union Commission proposal to put 23 non-EU countries and terrirorities on a money laundering and terrorist financing blacklist. (AFP)
Updated 13 February 2019
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US voices ‘significant concerns’ over new EU money laundering blacklist

  • US financial institutions will "not take into account" list, which includes Saudi Arabia
  • The list must be approved by the European Parliament and EU members

BRUSSELS: The US Treasury said on Wednesday it had "significant concerns" about the substance of a European Union Commission proposal to put 23 non-EU countries and terrirorities on a money laundering and terrorist financing blacklist.

The list of countries, which includes Saudi Arabia, was released on Tuesday and names states the EU Commission believes to pose a high risk when it comes to money laundering or funding terrorist activities.

A US Treasury statement said that the Financial Action Task Force (FATF) is the global standard-setting body for combating money laundering, terrorist financing, and proliferation financing.

The statement said the FATF, which includes the US, the European Commission, 15 EU member states, and 20 other jurisdictions, already develops a list of high-risk countries as part of a careful and comprehensive process.

The US treasury said the EU commission had not given the countries concerned sufficient time to discuss regulations, adding that it did not expect the US financial institutions to take the EU list into account in their policies and procedures.

EU Justice Commissioner Vera Jourova said on Wednesday that the list, which also named countries like North Korea and Nigeria, will be used to increase checks and investigations on financial operations to find any "suspicious money flows."

Jourova said that "we have to make sure that dirty money from other countries does not find its way to our financial system." She said that "Europe cannot be a laundromat for dirty money."

The European Parliament and the member states must now approve the list over the next weeks.


Nine Nigerian troops killed, several missing in jihadist ambush

Updated 7 sec ago
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Nine Nigerian troops killed, several missing in jihadist ambush

  • “We lost nine soldiers in an ambush by Daesh-WAP terrorists and many others are still missing,” a military officer said
  • The soldiers dispersed in all directions following sustained gunfire from the militants

KANO, Nigeria: At least nine Nigerian soldiers were killed and over a dozen are missing after Daesh-aligned militants ambushed a military patrol in northeast Borno state, military and militia sources told AFP Tuesday.
Fighters from Daesh West Africa Province (Daesh-WAP) on Friday used explosives and guns to attack a column of more than 30 troops on foot patrol outside the town of Damask near the border with Niger, the sources said.
“We lost nine soldiers in an ambush by Daesh-WAP terrorists and many others are still missing,” a military officer said.
The soldiers, who were 25 kilometers (15 miles) from their base, dispersed in all directions following sustained gunfire from the militants, said the officer who asked not to be identified.
“The terrorists detonated an explosive device they had planted on the road in advance, increasing the casualties and confusion among the soldiers,” he said.
Eight soldiers managed to return to base while the rest remain missing, including their commander with the rank of a major, the officer said.
“A man who identified himself as an Daesh-WAP terrorist keeps answering the call to the commander’s mobile phone, suggesting he is in the hands of the terrorists,” he added.
Ya-Mulam Kadai, a spokesman for government-funded anti-militant militia assisting the military in Damask, gave the same casualty toll.
The nine bodies of the slain soldiers were recovered by a military search team deployed at the scene of the attack, he said.
The military did not respond to AFP’s request for comment.
The Nigerian military has in recent weeks intensified ground operations against Daesh-WAP, particularly in its Sambisa forest stronghold, with the military making regular claims of killing huge numbers of militant fighters.
Daesh-WAP and rival Boko Haram factions have been attacking military targets, raiding bases, laying ambush and planting explosives against patrols on highways.
Nigeria’s insurgency has killed more than 40,000 people and displaced around two million in the northeast since it erupted in 2009, according to the United Nations.
The conflict has spilled into neighboring Niger, Cameroon and Chad, leading the region to launch a military coalition to fight the militant groups.