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Iceland facing Grey listing

Jaime Prieto Jaime Prieto 11 November - 2019
10 Less than a minute

Joining Mongolia, Pakistan and Zimbabwe, Iceland has been included on the Financial Action Task Force Grey List.

The country failed to pass the technical compliance evaluation which prompted the request from the USA and UK, against the EU efforts to maintain the country non-listed.

Even if some reforms linked to tax registration and use of confiscated proceeds have become law, this efforts were not sufficient to allow Iceland to skip the designation.

Source

Iceland Grey Listed for Inadequate Money Laundering Policies
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Jaime Prieto

Jaime Prieto

Mr. Jaime Prieto is a lawyer experienced in Financial Crime, Anti-Money Laundering and Counter Terrorism Financing having extensive professional experience in both public and private sectors. Mr. Prieto has been a Head of Compliance in the European Union, the Americas and the Caribbean for banks, trust companies, asset managers, Big Four audit and advisory firms, RegTechs, government agencies and other types of financial professionals. In addition to his experience, he has been legal and educational chair in several compliance and sectorial organisations and performed as a teacher and speaker for a number of organisations and in several local and international forums. Furthermore, Mr. Prieto is an experienced Money Laundering Reporting Officer anda Data Protection officer with additional experience in risk management.
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