Rich Exiles Put Dubai in Spotlight

The UAE has been added to the Financial Action Task Force's grey list due to insufficient efforts in combating money laundering, despite its strong record against terrorist financing. Dubai faces increased scrutiny, especially with the influx of Russian assets amid international sanctions. The UAE must balance its economic interests with international expectations, considering extraditions and asset freezes. The country aims to exit the grey list within two years, but this requires addressing its financial sector's reliance on illicit flows, which could have economic repercussions.

What was the main reason for the UAE being placed on the grey list by the Financial Action Task Force?

• Failure to combat terrorist financing

• Lack of international cooperation

• Political instability

• Inadequate measures against money laundering

How has the international community increased pressure on Dubai recently?

• By increasing trade tariffs

• By cutting diplomatic ties

• By sanctioning Russian assets linked to Vladimir Putin

• By imposing travel bans

What is one of the priority actions suggested for the UAE to address its grey list status?

• Reducing oil exports

• Increasing tourism

• Enhancing extraditions and asset freezes

• Improving public transportation

What is a potential consequence for the UAE if it cracks down too hard on illicit financial flows?

• Increased foreign investment

• Economic repercussions

• Improved international relations

• Higher inflation rates

Which regions are seeking the repatriation of funds from individuals accused of looting billions?

• Africa and Latin America

• North America and Australia

• Middle East and South Asia

• Europe and Asia