Overview

• The Financial Action Task Force (FATF) has removed the United Arab Emirates from its 'grey list' of countries subject to increased monitoring for money laundering and terrorist financing.
• Kenya and Namibia have been added to the FATF's 'grey list' due to deficiencies in their anti-money laundering systems.
• A total of 21 nations are now on the FATF's 'grey list', with Barbados, Gibraltar, and Uganda also being removed alongside the UAE.
• The FATF's decision to remove the UAE from the list has been met with criticism, with some alleging that political considerations influenced the move.
• Countries on the 'grey list' are recognized as having strategic deficiencies but are cooperating with the FATF to address these issues.