The European Union's executive branch will draft a new, expanded blacklist of nations vulnerable to financial crime this year after lawmakers demanded more concerted action against high-profile tax havens, a senior official said Tuesday.
European lawmakers Wednesday called for a more ambitious effort to identify nations outside of the European Union vulnerable to financial criminals after rejecting for the second time a proposed blacklist they claimed did not include any high-profile tax havens.
Members of the European Parliament are weighing the use of formal powers to pressure the economic bloc's executive branch into disclosing how it prepared a proposed blacklist of high-risk countries earlier this year.
The European Commission on Thursday recommended the inclusion of 11 nations on a planned list of jurisdictions deemed to be particularly vulnerable to money laundering and terrorist financing.