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.
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.
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.
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