The EU on Tuesday announced the removal of the United Arab Emirates from its money-laundering "high-risk" list but added Monaco alongside nine other jurisdictions.
The European Commission said it added Algeria, Angola, Ivory Coast, Kenya, Laos, Lebanon, Namibia, Nepal and Venezuela, along with Monaco, to the list of countries subject to extra monitoring of their money laundering controls, reports the Gulf News.
In addition to the UAE, it removed Barbados, Gibraltar, Jamaica, Panama, the Philippines, Senegal and Uganda.
The moves come after a money-laundering watchdog said in February it had removed the Philippines from its list of countries that face increased monitoring, while adding Laos and Nepal.
The Financial Action Task Force (FATF), a Paris-based organisation that reviews efforts by more than 200 countries and jurisdictions to prevent money laundering and terrorism financing, compiles a "grey list" of nations that are subject to increased monitoring of financial transactions.
Monaco has been included on the FATF list since mid-2024, along with EU member states Bulgaria and Croatia.
