UAE Poised to Exit Watchdog’s Dirty Money List After Reforms
- Financial Action Task Force likely to take UAE off gray list
- Gulf state has been clamping down on illicit financial flows
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The United Arab Emirates is poised to exit a global watchdog’s “gray list” as soon as this week, following a push to clamp down on illicit financial flows in and out of the oil-rich Gulf state.
Assessors from the Paris-based Financial Action Task Force conducted an on-site visit last month and subsequent feedback on the UAE’s action plan noted significant progress by the country, according to people familiar with the matter, who requested anonymity as the deliberations are private.