Ghana together with three other African countries has been blacklisted by the European Union over money-laundering.

The other African countries are Botswana, Mauritius, and Zimbabwe.

The total number of countries added to the blacklist is actually 12.

The other countries are Bahamas, Barbados, Jamaica, Nicaragua, Panama, Cambodia, Mongolia and Myanmar.

What this means is that the EU is putting their financial transactions under greater scrutiny when it comes to the aforementioned countries.

Once approved by the European Parliament the list will come into force in October.

The Commission Vice-President Valdis Dombrovskis said the EU needed to put an end to dirty money infiltrating its financial system.

Of the 22 blacklisted countries, only North Korea has refused to commit to trying to tackle the problem.