
International financial crime watchdog FATF announced on Friday that it had added EU member Croatia to its so-called “grey list” of countries under special scrutiny, adding that Cameroon and Vietnam had also been added to the list, reports Reuters, reports Reuters. on News.ro
The measure makes Croatia the only EU country on the list, which also includes the United Arab Emirates, Panama and Mali, and is a response to the country’s shortcomings in preventing money laundering and terrorist financing.
T. Raja Kumar, the organization’s president, told reporters that Croatia had committed to an action plan to improve compliance and urged the country to implement the plan “as soon as possible.”
Croatia’s action plan includes, among other things, “an assessment of the risks related to the abuse of legal entities and legal agreements and the use of cash in the real estate sector,” the watchdog said in a statement.
The Paris-based Financial Action Task Force (FATF), which held one of its regular plenary meetings this week, is an intergovernmental organization that supports the fight against money laundering and terrorist financing by setting global standards and verifying country compliance.
On Friday, the body also reiterated that “all jurisdictions should be alert to current and emerging risks of evasion of measures taken against the Russian Federation to protect the international financial system.”
In February, the FATF suspended Russia’s membership. She also said on Friday that no current members of the gray list had been removed since the June meeting.
Source: Hot News

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