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NEWS: ‘Greylisted’ UAE makes ‘substantial donation’ to body representing police FIUs globally
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NEWS: ‘Greylisted’ UAE makes ‘substantial donation’ to body representing police FIUs globally

By ALISHA HOULIHAN for AML Intelligence GREYLISTED UAE has made a “substantial donation” to the funding of the body representing the world’s police Financial Intelligence Units (FIUs). The Egmont Group of FIUs represents most of the main FIUs and held its most recent annual conference at a glittering venue in Abu Dhabi. Today (Wed) the...

UAE suspends Emirates Gold over money laundering allegations
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UAE suspends Emirates Gold over money laundering allegations

On Friday, the London Bullion Market Association, which regulates the United Kingdom capital’s metals market, suspended Emirates Gold DMCC’s affiliate membership after conducting a review.  Two of the ultimate beneficial owners of Emirates Gold are relatives of Zimbabwean businessmen Simon Rudland and Howard Baker, according to Bloomberg sources familiar with the UAE decision.  A documentary...

West wants to look the other way on UAE money laundering
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West wants to look the other way on UAE money laundering

As geopolitical winds shift, the US and European governments turn a blind eye to Emirates’ money laundering problem. BERLIN — Germany, the U.S. and several other Western countries are pushing a global money-laundering watchdog to give the financial system in the United Arab Emirates a clean bill of health despite persistent indications that the country...

Grey Listing of the UAE
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Grey Listing of the UAE

On 4th March 2022, the United Arab Emirates (UAE) was added to the list of jurisdictions under increased monitoring (Grey List) by the Financial Action Task Force (FATF). Grey Listing is typically applied to countries with gaps in their anti-money laundering (AML)/countering the financing of terrorism (CFT) regimes, but where commitments have been made for...