The Caribbean Community (CARICOM) Tuesday said it 'deplores the latest attack by the European Commission on the economic well-being of some of our member states' after they were named on the latest EU list of third countries with strategic Anti-Money Laundering/ Combating the Financing of Terrorism (AML/CFT) deficiencies.
'This list, which includes four CARICOM member states was published despite the European Council, in objecting to a list submitted for approval last year, concluding that the Commission's submission was 'not established in a transparent and resilient process that actively incentivises affected countries to take decisive action while also respecting their right to be heard.,' the Guyana-based CARICOM Secretariat said in a statement.
On May 7, the European Commission said the countries which have been listed are The Bahamas, Barbados, Jamaica, along with Botswana, Cambodia, Ghana, Mauritius, Mongolia, Myanmar, Nicaragua, Panama and Zimbabwe. But Guyana is among six other third world countries that have been delisted.
The EU said under the Anti-Money Laundering Directive (AMLD), the Commission has revised its list, taking into account developments at international level since 2018 and that the 'new list is now better aligned with the lists published by the Financial Action Task Force (FATF)'.
CARICOM said that the impacted countries were 'neither informed nor consulted' prior to the publication, adding 'the Commission's unilateral actions are therefore contrary to the principles of transparency and consultation reflected in the Council's conclusion, as well as its own assertions about its Revised Methodology which advocates prior engagement with third countries, as outlined in its...