European Union Blacklists Ghana, 11 Other Countries Over Money Laundering

The European Union has added 12 countries to its money-laundering blacklist, putting their financial transactions under greater scrutiny. They include Botswana, Ghana, Mauritius and Zimbabwe.

The list also includes Bahamas, Barbados, Jamaica, Nicaragua, Panama, Cambodia, Mongolia and Myanmar. This is however subject to approval by the European Parliament and will come into force in October if approved.

Of all the 22 countries currently blacklisted by the EU, all have pledged to find ways to tackle the problem except North Korea.

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The European Union adopted the first anti-money laundering Directive in 1990 in order to prevent the misuse of the financial system for the purpose of money laundering and terrorist financing.

Source: GhanaCelebrities.Com