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EU lists Ethiopia over money laundering

17 Nov

Posted by The Ethiopia Observatory (TEO)
by Addis Fortune
The European Commission blacklisted Ethiopia for being very risky in money laundering and terrorism financing, urging banks situated in Europe to apply enhanced due diligence on financial flows from the country.

Aiming to ensure proper functioning of the European market, the Commission, in its latest regulation released on October 27, 2017, added the country to the list of high-risk third countries along with Iran, Syria, Yemen and seven other nations.
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