Recital 1

(1)The Union must effectively protect the integrity and proper functioning of its financial system and the internal market against money laundering and terrorist financing. Article 9(2) of Directive (EU) 2015/849 therefore requires the Commission to identify third countries that have strategic deficiencies in their regimes on anti-money laundering and countering the financing of terrorism (AML/CFT) and thus pose significant threats to the Union’s financial system (‘high-risk third countries’).