EU Removes Jamaica from High-Risk List for Financial Crimes
Jamaica is no longer on the European Union’s list of high-risk third countries for money laundering and terrorism financing concerns.
The European Parliament approved the European Commission’s proposal to remove both Jamaica and Barbados from the list on Wednesday.
This move comes after Jamaica’s removal from the Financial Action Task Force (FATF) grey list last year, reflecting progress in addressing weaknesses in its financial regulatory systems.
Prime Minister Andrew Holness welcomed the announcement, describing it as an important advancement for Jamaica and the Caribbean region.
In a statement shared on social media, he highlighted the country’s persistent engagement with EU officials and the extensive reforms made to enhance financial oversight.
Holness also pointed to the decision as a sign of the solid relationship between Jamaica and the European Union.
Senator Kamina Johnson Smith, Minister of Foreign Affairs and Foreign Trade, also celebrated the update.
In a special address to the European Parliament, she thanked EU representatives for recognising the Jamaican government’s efforts in improving safeguards against financial crimes.
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