The European Commission has reviewed the list of countries that are considered high risk for money laundering and terrorism funding. Among the loudest additions is now one of Monaco, a prince known for his luxurious lifestyle and his favorable tax regime, which has often been at the heart of controls and criticism of inadequate supervision of his financial activities. The decision integrates Monaco into a special group of states such as Syria, Myanmar and Burkina Faso, causing impression and political reactions. At the same time, Venezuela is also added to the list, while the United Arab Emirates (UAE) and Gibraltar are deducted, despite reactions from MEPs and organizations that consider this deletion early. The content of the list is not only based on technical criteria. As has been clear in the past, the final composition is the result of compromises, diplomatic interventions and political pressure, according to a Politico report. The European Parliament has repeatedly expressed objections to […]
Source: News Beast
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