The European Commission has revised its list of high-risk jurisdictions that show strategic deficiencies in anti-money laundering (AML) and counter-terrorist financing (CFT) frameworks.

According to the Commission's announcement, entities operating within the EU and subject to AML regulations are required to apply enhanced due diligence when conducting transactions involving these countries. This measure aims to safeguard the EU’s financial system from exposure to illicit financial flows.

The updated list includes new additions: Algeria, Angola, Ivory Coast, Kenya, Laos, Lebanon, Monaco, Namibia, Nepal, and Venezuela. At the same time, several countries have been removed from the list: Barbados, Gibraltar, Jamaica, Panama, the Philippines, Senegal, Uganda, and the United Arab Emirates.

The Commission stated it had taken into account concerns raised about its previous proposal and carried out an extensive technical evaluation. This assessment was based on specific criteria and a clearly defined methodology. Additionally, bilateral dialogues and on-site visits were conducted in the jurisdictions under review.

The Commission is required to regularly update this list, as stipulated by the EU's Anti-Money Laundering Directive. The revised list will enter into force following a review and the absence of objections from the European Parliament and the Council within one month.

Maria Luís Albuquerque, the Commissioner for Financial Services, Financial Stability, and the Capital Markets Union, emphasized that identifying and listing high-risk countries remains a critical tool in ensuring the integrity of the EU’s financial system.