In 2020, the Financial Action Task Force urged the UAE to “take urgent action to effectively stop the criminal financial flows that it attracts.” Finding the UAE’s efforts unsatisfactory, FATF put the country two years later on its gray list, which means increased monitoring of measures taken by the country to mitigate money laundering and terrorist financing. But FATF removed the UAE from its gray list this year, announcing that the country had made “significant progress,” including improvements in the ability to investigate and prosecute violators. An OCCRP-led investigation, Dubai Unlocked, called that decision into question. Now, FATF says it will probe findings from the investigation as it assesses the UAE’s efforts to improve its financial sector. https://lnkd.in/gPBXJc_y #DubaiUnlocked #FATF #UAE
In the next mutual evaluation round in August 2026 that is…
Executive Chairman and CEO at DMCC
1wThe Rising Decline of Institutional Credibility Ahmed Bin Sulayem | 25 May 2022 https://www.linkedin.com/pulse/rising-decline-institutional-credibility-ahmed-bin-sulayem