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UAE to be FATF grey listed?

04/01/2022

The Financial Action Task Force is leaning toward adding the UAE to its "grey list" early this year.

Even after a recent government push to stamp out illicit transactions, the United Arab Emirates is at increased risk of being placed on a global watchdog's list of countries subject to more oversight for shortcomings in combating money laundering and terrorist financing.

CURRENTLY, the FATF has 23 countries under closer scrutiny, including Albania, Syria, and South Sudan, with only Iran and North Korea on its highest-risk "black list."

Should the FATF approve the designation, it would be among the most significant such steps in the Paris-based group's three-decade history, given the UAE's position as the primary financial hub of the Middle East.

https://www.bloomberg.com/news/articles/2022-01-04/uae-faces-risk-of-inclusion-on-global-watchlist-over-dirty-money

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