While the UAE has improved its risk assessment products and systems for implementing a risk based approach in its efforts to remove itself from the Financial Action Task Force (FATF) grey list, a new follow-up report by the task force on these efforts outlines continuing concerns about the emirates’ approach to several risks, including trade-based laundering (TBML).

 The UAE was placed on the FATF list of jurisdictions under increased monitoring, often referred to externally as countries on the grey list, in March 2022 and has committed to implementing the recommendations of an action plan to remove itself from the list.

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