UAE needs time to show effectiveness to exit financial crime grey list, says Economy Minister

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Wed, 2023-04-26 11:16

LONDON: The UAE needs time to demonstrate the effectiveness and enforcement of policies introduced against financial crime before it can be removed from a global watchdog’s ‘grey’ list, the economy minister told Reuters. 

The Financial Action Task Force just over a year ago included the UAE on a list of jurisdictions subject to increased monitoring, known as its ‘grey’ list. The UAE responded by saying it was committed to working closely with FATF to improve. 

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