UAE is going in FTFA list - wake up call for all GCC countries

[xyx007]

This is Allah punishment to Arab people on not given support to Pakistan and stand with anti-pakistan groups.

 

[Archie]

This is Allah punishment to Arab people on not given support to Pakistan and stand with anti-pakistan groups.

You should be happy
U have now someone u can trust within FATF grey list

anyways
Where are Saudi, Qatar and Iran

 

[PradoTLC]

some people get too excited..

UAE at risk of landing on watchlist over money laundering
UAE will now be put under a year-long observation by the Paris-based Financial Action Task Force.

1 May 2020

Workers wear masks during the outbreak of the coronavirus disease in Dubai in the United Arab Emirates, which has received a 'low' rating for investigation and prosecution of money laundering from a Paris-based group that monitors dirty money [Ahmed Jadallah/Reuters]
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The United Arab Emirates is not doing enough to prevent money laundering despite recent progress, and risks landing on an international watchlist, a global dirty-money watchdog - the Paris-based Financial Action Task Force (FATF) - said on Thursday.

The UAE, which includes the region's financial and commercial centre Dubai, will now be put under a year-long observation by FATF.

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"The United Arab Emirates recently strengthened its legal framework to fight money laundering and terrorist financing but, as a major global financial centre and trading hub, it must take urgent action to effectively stop the criminal financial flows that it attracts," the FATF said in a statement.

The intergovernmental body said that major or fundamental improvements are required in 10 of 11 areas evaluated for preventing money laundering and the financing of "terrorism" and weapons of mass destruction.

"The UAE has achieved positive results in investigating and prosecuting the financing of terrorism," the FATF noted, "but its limited number of money laundering prosecutions and convictions, particularly in Dubai, are a concern given the country’s risk profile."

The watchdog said UAE authorities are not fully exploiting financial intelligence to root out money laundering or trace the proceeds of criminal financial transactions.

The report, which took 14 months to compile and involved a visit to the UAE in July, gave a "low" rating for investigation and prosecution of money laundering and a "moderate" rating for preventive measures and financial sanctions related to countering the financing of "terrorism".

If the UAE fails to improve, it could find itself alongside states such as Syria, Yemen and Pakistan, which the FATF deems to have "strategic deficiencies".

The UAE has tightened financial regulations in recent years to try to overcome a perception among some foreign investors that it is a hot spot for illicit money flows.

It passed a new anti-money laundering and terror financing law in 2018, and has also worked with the United States to apply sanctions to armed groups.

The FATF said authorities must close loopholes in the property and precious-metal sectors that can be exploited by professional money launderers.

It also urged the UAE to actively pursue international money laundering networks and improve formal cross-border cooperation.

The report also said there was a "noticeable absence" of consistent investigations and prosecutions for money laundering cases related to high-risk crimes and sectors deemed high-risk, such as money transfer.

Between 2013 and 2019, the UAE prosecuted 92 people and convicted 75 for "terrorism" financing activities, FATF said, while there were 50 prosecutions and 33 convictions in money laundering cases between 2013 and 2018.

Among those, Dubai had only 17 money laundering prosecutions over five years.

SOURCE: AL JAZEERA AND NEWS AGENCIES

i am actually suprised why india is not on the list... india is notoriously bad.. with half it;s parliment loaded with criminals.

 

[xyx007]

Why doesn't Switzerland and Panama gets on Fatf blacklist? Money laundering hubs. What a joke, Switzerland decides on fatf ratings lol



If this was true, Pakistan would be under punishment for supporting China over holocaust of Muslims.

Nice counter statement , are you referencing from western media or you have yourself observed this holocaust . Because I been myself in that Chinese area and couldn't able to find whatever your statement is ground on and Soley picked stories of western media mantra against china.

 

[Metal 0-1]

Some jerks sitting in France harassing nations nothing else. France is responsible for the mess in Libya and other Middle Eastern countries. As long as a country is buying jets from France state sponsored terrorism in neighboring countries is no longer a issue. They just gonna slide that under rig as long as they have their business.

 

[Ali_Baba]

Didnt UAE VOTE AGAINST Pakistan in the last FATF ?

 

[Archie]

Why doesn't Switzerland and Panama gets on Fatf blacklist? Money laundering hubs. What a joke, Switzerland decides on fatf ratings lol


If this was true, Pakistan would be under punishment for supporting China over holocaust of Muslims.

That’s actually a valid point
Why does Switzerland a Country with gdp of 300 billion USD have banks with assets under management worth more than 2 trillion USD

I bet , if the secrecy veil gets lifted , we will find out that Pakistanis have put more money in Swiss bank accounts than the Forex Holding of State Bank of Pakistan

 

[fisher1]

Nice counter statement , are you referencing from western media or you have yourself observed this holocaust . Because I been myself in that Chinese area and couldn't able to find whatever your statement is ground on and Soley picked stories of western media mantra against china.

Done my own research online and found extremely credible evidence. Gotten proof from extremely reliable person in real life who i believe than any coconut on this forum.

Your own Pakistani PM and human rights minister never denied the allegations. Instead of jumping to blindly defending China, use your own brain.

Remember this

Indeed, the worst of living creatures in the sight of Allah are the deaf and dumb who do not use reason. - Holy Quran 8-22

Chinese mock Islam, mock God, call Islam a contagion, a virus, are murderers and have no regard for human life. Only the most stupid person would think China will give two craps about powerless minority like Uighurs.

 

[bananarepublic]

You should be happy
U have now someone u can trust within FATF grey list

anyways
Where are Saudi, Qatar and Iran

Lol Muslim ummah together

 

[Dalit]

Why doesn't Switzerland and Panama gets on Fatf blacklist? Money laundering hubs. What a joke, Switzerland decides on fatf ratings lol

If this was true, Pakistan would be under punishment for supporting China over holocaust of Muslims.

Which Muslim Holocaust? The one that daddy America and Modi is propagating to you? There is no Muslim Holocaust in China. That is a Western fabricated Holocaust.

Where are you when your Indian friends strip millions of Indian Muslims of their Indian citizenship? Where are you when India lynches, kills and rapes Muslims in Modi's Hindustan? What about the real Holocaust that took place in Iraq at the hands of USA?

 

[CrazyZ]

Why doesn't Switzerland and Panama gets on Fatf blacklist? Money laundering hubs. What a joke, Switzerland decides on fatf ratings lol

These are illicit financial heavens for wealthy westerners. FATF will never touch them.

 

[ghazi52]

Good for Pakistan, as majority issues are link to UAE. Huge chunk of money is going there.
Source of Black money.

 

[fisher1]

Where are you when your Indian friends strip millions of Indian Muslims of their Indian citizenship? Where are you when India lynches, kills and rapes Muslims in Modi's Hindustan? What about the real Holocaust that took place in Iraq at the hands of USA?

In the Indian section condemning it. Where are you?

 

[Dalit]

In the Indian section condemning it. Where are you?

I am at the place of sanity and not buying Western propaganda.

 

[fisher1]

I am at the place of sanity and not buying Western propaganda.

Cute. You can call it western propaganda all day like a faithful China lover but that doesn't change the reality.

Even the Prime Minister of Pakistan doesn't deny it and he's getting more for his loyalty to China than you ever will.