EU states could ‘block adoption of money laundering blacklist’

The adoption of a European Union money-laundering blacklist, which includes Saudi Arabia and four Unites States territories, could be blocked by EU governments under a procedure initiated on Thursday. (Reuters)
Updated 28 February 2019

EU states could ‘block adoption of money laundering blacklist’

  • Some national envoys opposed the adoption of the list, triggering a process that could lead to the delay or withdrawal of the blacklist
  • Saudi authorities highlighted the efforts being made by the Kingdom to combat such crimes as a response to the decision to place the Kingdom on the blacklist

BRUSSELS: The adoption of a European Union money-laundering blacklist, which includes Saudi Arabia and four Unites States territories, could be blocked by EU governments under a procedure initiated on Thursday, two EU diplomats told Reuters.
At a meeting on Thursday, some national envoys opposed the adoption of the list, triggering a process that could lead to the delay or withdrawal of the blacklist, the diplomats said.

For the list to be blocked, a majority of 21 states is necessary. EU officials said that around 15 countries have already declared their opposition to the listing.
The list was first adopted by the European Commission on Feb 13 and lists 23 jurisdictions including Nigeria, Panama, Libya, the Bahamas and the four US territories of American Samoa, US Virgin Islands, Puerto Rico and Guam.

Saudi Arabia previously expressed its regret about the European Commission's decision to place the Kingdom on a blacklist of 23 non-EU countries and territories accused of posing a high risk of money laundering and financing terrorism. In response, Saudi authorities highlighted the efforts being made by the Kingdom to combat such crimes.
“The Kingdom finds it it regrettable that it was included in the proposed list of ‘high-risk’ countries for money laundering and terrorist financing that was issued by the European Commission on Feb. 13, 2019,” Saudi authorities said in a statement released by the Saudi Press Agency. “This comes despite the Kingdom’s ratification of many laws and procedures relating to combating money laundering and terrorist financing, to reduce the risks associated with such crimes.”
It added that the Kingdom reaffirms its strong commitment to the joint global efforts to combat money-laundering and the financing of terrorism, as part of which it works with international partners and allies.
“Saudi Arabia, who is a key partner in the international coalition against Daesh, has been leading a group, along with the United States and Italy, to fight the financing of the group,” the statement continued.


Scientists discover big storms can create ‘stormquakes’

Updated 17 October 2019

Scientists discover big storms can create ‘stormquakes’

  • Shaking of sea floor during hurricanes and nor’easters can rumble like a magnitude 3.5 earthquake and can last for days
  • But a stormquake is more an oddity than something that can hurt you, says seismologist
WASHINGTON: Scientists have discovered a mash-up of two feared disasters — hurricanes and earthquakes — and they’re calling them “stormquakes.”
The shaking of the sea floor during hurricanes and nor’easters can rumble like a magnitude 3.5 earthquake and can last for days, according to a study in this week’s journal Geophysical Research Letters. The quakes are fairly common, but they weren’t noticed before because they were considered seismic background noise.
A stormquake is more an oddity than something that can hurt you, because no one is standing on the sea floor during a hurricane, said Wenyuan Fan, a Florida State University seismologist who was the study’s lead author.
The combination of two frightening natural phenomena might bring to mind “Sharknado ,” but stormquakes are real and not dangerous.
“This is the last thing you need to worry about,” Fan told The Associated Press.
Storms trigger giant waves in the sea, which cause another type of wave. These secondary waves then interact with the seafloor — but only in certain places — and that causes the shaking, Fan said. It only happens in places where there’s a large continental shelf and shallow flat land.
Fan’s team found 14,077 stormquakes between September 2006 and February 2015 in the Gulf of Mexico and off Florida, New England, Nova Scotia, Newfoundland, Labrador and British Columbia. A special type of military sensor is needed to spot them, Fan said.
Hurricane Ike in 2008 and Hurricane Irene in 2011 set off lots of stormquakes, the study said.
The shaking is a type that creates a wave that seismologists don’t normally look for when monitoring earthquakes, so that’s why these have gone unnoticed until now, Fan said.
Ocean-generated seismic waves show up on US Geological Survey instruments, “but in our mission of looking for earthquakes these waves are considered background noise,” USGS seismologist Paul Earle said.pport from the Howard Hughes Medical Institute’s Department of Science Education. The AP is solely responsible for all content.