FATF grey listing

Seeing the rays through the grey

The Financial Action Task Force (FATF) published the Mutual Evaluation Report of the United Arab Emirates in April 2020, analysing the level of technical compliance with the FATF 40 Recommendations, the level of effectiveness of its Anti-Money Laundering /Combatting of Financing Terrorism system and recommendations on how the system could be strengthened. Due to the assessment ratings, and in accordance with the procedures of mutual evaluation, the FATF plenary meeting decided that the UAE should be subject to enhanced follow-up.

As a result, the UAE has been placed on FATF’s grey list in March 2022 following the identification of a number of deficiencies.
This whitepaper explores the grey listing process, potential repercussions and what can be expected in the future.

If you would like to learn more or have any queries, please reach out to Muzammil Ebrahim.

FATF grey listing - Seeing the rays through the grey
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