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.
The European Parliament on Thursday overwhelmingly rejected a proposed blacklist of nations prone to financial crimes because it did not include offshore jurisdictions frequently involved in tax violations, say sources.
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.
The European Union's executive body on Tuesday proposed a host of new rules to fight money laundering and tax evasion, including plans to require nations to make corporate ownership data publicly available.
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