An international ‘white list’ of financial centres with top quality
anti-money laundering controls, drawn up by
member countries, omits financial centres in Britain’s Caribbean territory and
gives the Crown dependencies of the Channel Islands and Isle of Man only a
qualified status, but includes Russia and other countries with contentious
The list gives companies operating in EU member states the option of waiving
some of the checks they would otherwise carry out on financial transactions
involving territories that feature on it, the Financial Times reports.
One financier, specialising in offshore finance, said the centres excluded
from the list could find themselves at a competitive disadvantage compared with
those on it.
A British official in anti-money laundering said the decision to include Russia
while excluding the Cayman Islands was ‘outrageous’ – it seemed to reflect a
historic suspicion of the Caribbean territory.
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