Feb 23 (Reuters) – The Financial Action Task Force (FATF), an intergovernmental body fighting money laundering and terrorist financing, on Friday removed the United Arab Emirates and Gibraltar from its “grey list” of countries and territories subject to increased surveillance.
Other states removed from the list are Barbados and Uganda.
The United Arab Emirates, a major financial hub in the Middle East, is home to many global banks, while Gibraltar is home to online gambling and cryptocurrency companies.
The FATF, whose headquarters is in Paris, also announced that it had added Kenya and Namibia to its “gray list”.
Read also…
The organization’s “grey list” includes countries “that are actively working with the FATF to address strategic deficiencies in their anti-money laundering, anti-terrorist financing and proliferation financing regimes.”
The “black list” concerns states with “serious strategic deficiencies” in these areas. (Report Sudip Kar-Gupta, French version Augustin Turpin, edited by Sophie Louet)
©2024 Thomson Reuters, all rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. “Reuters” and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.