Dubai Revelations Prompt Questions From EU Parliamentarians

Dubai Revelations Prompt Questions From EU Parliamentarians

European parliamentarians are questioning whether the United Arab Emirates should have been taken off the “gray list” of countries at risk of money laundering and terrorist financing, following revelations that Dubai property owners include a host of dubious characters like drug lords and sanctioned businessmen.

In mid-May, OCCRP and more than 70 international media outlets published the Dubai Unlocked investigation based on leaked real estate data. The stories showed that alleged criminals from around the globe flock to Dubai, where they benefit from low tax rates, financial opacity, and a luxurious metropolis.

The investigation came on the heels of the February decision by the Financial Action Task Force (FATF) –– a G7 anti-money laundering initiative –– to remove the UAE from its gray list.

That decision did not sit well with some Members of the European Parliament (MEPs), including Denmark’s Kira Marie Peter-Hansen. She told OCCRP that the Dubai Unlocked project showed they were right to be concerned.

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