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Grey List

All articles tagged with #grey list

finance1 year ago•1 min saved

UAE Cleared from Global Money Laundering Watchlist

The United Arab Emirates has been removed from the global money laundering "grey list" after implementing reforms to strengthen its financial regulations and meet international standards, marking a significant milestone for the country's efforts to combat financial crime. The move reflects the UAE's commitment to enhancing its anti-money laundering and counter-terrorist financing framework, which is crucial for maintaining its position as a global financial hub.

via Financial Times|

#finance #financial-regulations #grey-list

finance2 years ago•2 min saved

Lebanon faces grey-listing by financial crime watchdog.

Lebanon is likely to be placed on the "grey list" of countries under special scrutiny over unsatisfactory practices to prevent money laundering and terrorism financing, according to sources familiar with the matter. The country's economy was evaluated by the Middle East and North Africa section of the Financial Action Task Force, which found that Lebanon was only partially compliant in several categories, including anti-money laundering measures and transparency on beneficial ownership of firms. Being put on the FATF grey list could disrupt a country's capital flows, risk reputational damage, credit ratings adjustments, trouble obtaining global finance, and higher transaction costs.

via Reuters|

#finance #financial-action-task-force #grey-list