The Central Bank of the United Arab Emirates issued a press release underscoring the country’s exit from the enhanced monitoring process by the Financial Action Task Force.
The Dubai Financial Services Authority is seeking feedback on proposed regulatory updates for crypto tokens. Comments are due by March 4, 2024.
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EU Lawmakers Want UAE Kept on Money Laundering Watchlist
Members of the European Parliament launched a bid to keep the United Arab Emirates on the EU’s list of jurisdictions outside the bloc that present a high threat of illicit finance, citing the Gulf nation’s outsized role in transnational money-laundering and sanctions-busting schemes.
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FATF Lifts United Arab Emirates from Global Watchlist
The Dubai Financial Services Authority published an enforceable undertaking against R.J. O’Brien (MENA) Capital Limited, known as RJO MENA, for failing to maintain records of electronic communications of transactions and poor compliance with client onboarding rules, among other violations.
The Dubai Financial Services Authority imposed a $373,842 monetary penalty on the United Arab Emirates-based bank for failure to identify and report market abuse and suspicious trades.
Technical | Effectiveness |
---|---|
Compliant : 15 | High : 0 |
Largely Compliant : 24 | Substantial : 1 |
Partially Compliant : 1 | Moderate : 6 |
Non-Compliant : 0 | Low : 4 |
The United Arab Emirates' technical compliance was re-rated in a July 5, 2023 follow-up report.
Rank : 37/141 |
Score : 5.89/10 |
Rank : 21/180 |
Score : 71/100 |
Rank : 10/133 |
Score : 78/100 |