News

EU Lawmakers Want UAE Kept on Money Laundering Watchlist

Koos Couvée
London Bureau Chief

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. On Wednesday, lawmakers from the European People's Party, Socialists & Democrats, Greens, Renew and The Left filed a motion objecting to a proposal from the EU's executive branch, the European Commission, to align the bloc's list of "high-risk third countries" with a similar "gray list" of jurisdictions kept by the Financial Action Task Force. The UAE exited...

TO READ THE FULL STORY