The government of Ethiopia reacted today to the European Commission list of third countries with weak antimoney laundering and terrorist financing regimes, which includes Ethiopia. The list of third countries with weak antimoney laundering and terrorist financing regimes adopted on February 13, 2019, aims to protect the EU financial system by better preventing money laundering and terrorist financing risks. Opposing its inclusion in the latest list the government of Ethiopia calls on the EU Commission to ‘urgently review the “high-risk third countries” listing. A good case in point is Africa’s annual loss in the billions due to corruption and money laundering. “Locating and recovering these funds is near to impossible for most of us, making the fight against corruption and money laundering harder than ever,” it said, indicating the seriousness of European Commission report and its commitment to fighting against money laundering and terrorism financing on its home front.

Source: News Business Ethiopia March 13, 2019 13:35 UTC