UAE Makes Stride Toward Removal From EU’s Dirty Money Risk List

The United Arab Emirates is set to exit the European Union’s “black list” of countries with deficient controls over illicit money flows, after the bloc’s lawmakers approved a revision to the ledger.

The European Parliament voted in favor of a review proposed by the bloc’s executive arm in June, which took the UAE off the list of high-risk jurisdictions for money-laundering and terrorism financing. The update will come into force if EU member states do not raise an objection.