European Commission Extends Its Money Laundering Blacklist and Includes Saudi Arabia

On February 13, 2019, the European Commission adopted Delegated Regulation (C(2019) 1326) identifying high-risk third countries that present strategic deficiencies in their regime on anti-money laundering and counter terrorist financing (AML/CFT). On May 30, 2018, the European Parliament and Council adopted Directive (EU) 2018/843, which amended Directive (EU) 2015/849 and entered into force on  July 9, 2018 . The new Directive notably revised and broadened the criteria to be considered by the Commission when making its assessment of high-risk third countries under Article 9 of Directive (EU) 2015/849.