The Financial Action Task Force (FATF) has placed the United Arab Emirates (UAE) on its “grey list,” amid concerns that the Gulf state is not doing enough to deter criminals from hiding wealth. The US State Department recently said that cash smuggling is a significant problem for the country.
Other countries appearing on the list are – are Albania, Barbados, Burkina Faso, Cambodia, Cayman Islands, Haiti, Jamaica, Jordan, Mali, Malta. Myanmar, Nicaragua, Pakistan, Panama, Philippines, South Sudan, Syria, Turkey, Uganda and Yemen.
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