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 measures are suggested for the UAE to improve its standing with the Financial Action Task Force?

In what ways has Dubai historically managed illicit financial flows, and what are the potential repercussions of cracking down on them?