European officials are building a "strong legal case" for adding Russia to the EU's watchlist of countries prone to illicit finance, the bloc's outgoing head of financial stability, financial services and capital markets said Wednesday. Mairead McGuinness, who previously served as vice president of the European Parliament, told lawmakers in Brussels that any proposal to include Russia on the watchlist would require a solid foundation of "robust evidence" showing that the country's systemic vulnerabilities to money laundering also threaten the EU. "We have been considering an autonomous listing, as is our prerogative under EU law," McGuinness told lawmakers Wednesday. "If...
After years of wrangling, the EU's 27 nations finally binned an autonomous blacklist of jurisdictions Wednesday that present an elevated threat of financial crime, or at least did in the eyes of the European Commission, the bloc's executive branch.
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