UAE is on track to be removed from the Financial Action Task Force’s (FATF) grey list following its consistent progress on compliance measures to combat money laundering.
FATF has indicated that the UAE, had introduced significant compliance measures and made progress in areas such as facilitating money-laundering investigations, imposing sanctions on non-compliance at financial institutions, and increasing prosecutions. The UAE has enhanced its AML regulatory regime and increased enforcement actions in the DIFC and ADGM. A successful inspection would indicate that the UAE could be removed from the list of countries under enhanced monitoring at FATF’s next review which is due to be held in April/May 2024.
Copyright 2023 James Berry Associates | All Rights Reserved
Web Design By NEXA
You have the ability to accept or decline cookies. Most web browsers automatically accept cookies, but you can usually modify your browser settings to decline cookies if you prefer. If you choose to decline cookies, you may not be able to fully experience the interactive features of our site.