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UAE Poised for Global Watchdog’s ‘Gray List’ Over Dirty Money

Skyscrapers in Dubai,

Skyscrapers in Dubai,

Photographer: Christopher Pike/Bloomberg

The United Arab Emirates is set for inclusion on a global watchdog’s “gray list” after some of its members indicated that the Gulf nation hadn’t made enough progress in tackling illicit financial flows, according to people familiar with the matter.

At least three members of the Paris-based Financial Action Task Force have expressed the view that the UAE hasn’t done enough to exit the review process and therefore will likely get put on the group’s list of countries subject to more oversight, said the people, who requested anonymity as the matter is private.