The European Union Commission on Tuesday proposed to put 23 non-EU countries and territories on a blacklist of those it believes to pose a high risk when it comes to money laundering or terrorist financing.
Justice Commissioner Vera Jourova said Wednesday that the list, including such nations like Saudi Arabia, North Korea and Nigeria, will be used to increase checks and investigations on financial operations to find any suspicious money flows.
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Jourova said that "we have to make sure that dirty money from other countries does not find its way to our financial system." She said that "Europe cannot be a laundromat for dirty money."
The European Parliament and the member states must now approve the list over the next weeks.