DUBAI: The Financial Action Task Force (FATF) while retaining Pakistan on the ‘grey list’ adds UAE (United Arab Emirates) to the money laundering watch list.  According to Reuters, the FATF also known as Groupe d’action financière on Friday said that the Middle East business hub in the UAE has been included in the grey list and “subject to increased monitoring”. In response, the UAE government has vowed a “strong commitment” to the FATF, to ensure it meets the requirements to be removed from the grey list.  Australian leg-spinner Shane Warne dies at age 52 Jahangir Tareen expected to return to Pakistan on March 6 It is pertinent to note that countries like UAE, Pakistan, and others that are included in the grey list are considered liable to reputational damage, especially with regards to global financial transactions. According to the foreign news agency, the UAE which is the financial capital in the region is working on an action plan that guarantees effectiveness in its anti-money laundering and counter-terrorism financing regimes.  According to reports, the UAE government has issued a statement following the FATF’s decision. In the statement, the UAE has pledged “robust actions and ongoing measures” to ensure stability in the “country’s … Continue reading UAE added to FATF grey list for money laundering