European Union Removes UAE from High-Risk Money Laundering List
The European Union has removed the United Arab Emirates (UAE) from its list of high-risk countries for money laundering.
According to Geo News, the European Commission acknowledged significant improvements in the UAE’s laws and regulatory framework, and the decision to delist the UAE was made based on the Commission’s recommendation.
Emirati authorities stated that the country implemented legal and administrative reforms and took strict enforcement actions. The EU’s decision is seen as recognition of the UAE’s efforts in combating global financial crimes.
Additionally, both the EU and the UAE have agreed to initiate talks on a free trade agreement.
It is worth noting that the Financial Action Task Force (FATF) had already removed the UAE from its grey list in February 2024.
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