United Arab Emirates and Gibraltar removed from FATF “grey list”

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”.

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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)


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