The UAE is the only new jurisdiction to have been put on the Financial Action Task Force (FATF) ‘grey list’ of countries at the global financial watchdog’s plenary meetings last week. The emirates are now actively working with the task force to address strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing

Pakistan, which has been on the grey list since June 2018 and had hoped to be removed from it during last week’s meetings, has taken swift steps towards improving its anti-money laundering and counter financing of terrorism (AML/CFT) regime and completed all but one of the action items required. But it remains for now on the grey list.

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