Eighth EU-UAE Structural Dialogue concludes in Abu Dhabi on anti-money laundering and terrorist financing
In a landmark demonstration of growing global partnership, senior officials from the European Union (EU) and the United Arab Emirates (UAE) convened in Abu Dhabi for the 8th EU–UAE Structural Dialogue on Anti‑Money Laundering (AML) and Countering the Financing of Terrorism (CFT). The prime meeting reinforced the mutual commitment to protecting and safeguarding the integrity of international financial systems.
High-Risk Jurisdictions subject to a Call for Action: Jurisdictions under Increased Monitoring
In June 2025, the FATF highlighted three countries, Democratic People’s Republic of Korea (DPRK), Iran and Myanmar under its most serious warning category and flagged 25 others, Algeria, Angola, Bolivia, Bulgaria, Burkina Faso, Cameroon, Côte d’Ivoire, Democratic Republic of Congo, Haiti, Kenya, Lao PDR, Lebanon, Monaco, Mozambique, Namibia, Nepal, Nigeria, South Africa, South Sudan, Syria, Venezuela, Vietnam, Virgin Islands (UK), Yemen for intensified monitoring. Bolivia and UK Virgin Islands joined the grey list in June 2025, whereas Croatia, Mali, and Tanzania have exited the list, demonstrating successful compliance.
UAE Steps Up AML Efforts with Ministry of Economy and Dubai Police Pact
On June 8, 2025, during the prestigious World Police Summit in Dubai, the United Arab Emirates (UAE) took a decisive step forward in its global fight against money laundering and terrorism financing. The Ministry of Economy and Dubai Police signed a high-level Memorandum of Understanding (MoU) to institutionalize tighter coordination, intelligence sharing, and operational synergy. The agreement spans suspicious transaction monitoring, real estate oversight, Know Your Customer (KYC)—especially beneficial ownership—and aims to cover non-bank sectors like real estate, gold trading, and auditing.
Kuwait Overhauls AML Law with Hefty Penalties, UN Sanctions Powers
The government of Kuwait has enacted significant amendments to its anti–money laundering and counter‑terror financing (AML/CFT) law Decree‑Law No. 76 of 2025 whose goals include reinforcing compliance with UN Security Council resolutions and elevating Kuwait’s standing in global finance.
FATF Raises Alarm on Soaring Stablecoin
The Financial Action Task Force (FATF), the worldwide benchmark – setter against money laundering and terrorist financing released a crucial update. It denoted an alarm about the marked uptick in illegal activities tied to stablecoins, urging nations and regulators globally to respond swiftly. Though the move has stirred concern in crypto landscapes, industry experts clarify: this isn’t an attack on crypto rather a wake‑up call for stronger oversight.
EU Delists UAE and Gibraltar, Flags Monaco: A Turning Point in AML Policy
The European Commission issued a landmark update to its list of “high‑risk third countries” jurisdictions that pose strategic loopholes in anti–money laundering (AML) and counter‑terrorist financing (CTF) practices. In a high-profile move, the Commission delisted several major financial hubs, most notably the United Arab Emirates (UAE) and Gibraltar, and simultaneously added a host of other jurisdictions, including Monaco, to the watchlist.
Wolfsberg Group Reaffirms Commitment to Risk‑Based Approach
On 22 July 2025, the Wolfsberg Group, an association comprising 12 leading global banks released its long‑expected Statement on the Risk‑Based Approach (RBA), affirming its foundational philosophy and promising applicable updates to several significant documents. With roots in the group’s 2006 RBA guidance and the widely used 2015 risk-assessment FAQs, this new statement firmly returns the spotlight to proportionality, prioritization, and outcome-based effectiveness.
