Is UAE under FATF GREY list?
No. The UAE fully addressed its International Cooperation Review Group action plan between February 2022 and January 2024, and the ICRG Joint Group assessment team noted that the process of implementing the required cross-cutting reforms is fully in place and being sustained. The country is no longer under increased monitoring.
The second NRA was produced against that backdrop, which is part of why it reads as it does. Much of the report is structured around demonstrating that reforms introduced during the action plan period have been embedded rather than performed once, particularly in supervision, use of financial intelligence, beneficial ownership transparency and targeted financial sanctions implementation.
For regulated firms the practical consequence is that supervisory intensity has not dropped. The fifth round mutual evaluation is effectiveness-led, so supervisors need evidence that firms are applying controls, not just that firms have written them down.
Legal Reference (source document):
· UAE Money Laundering and Terrorist Financing National Risk Assessment, 2nd NRA (2024)
· National Anti-Money Laundering and Combatting Financing of Terrorism and Financing of Illegal Organizations Committee
Scope note: FATF listing status changes by plenary decision. Confirm current status against FATF publications before relying on it.
Further reading: The UAE removal from the FATF grey list
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