us

216.73.216.2

EU Suggests Blacklisting UAE Following “Dubai Uncovered” Leaks

eu suggest blacklisting

The EU has suggested blacklisting UAE under the “Dubai Uncovered” leaks depicting how sanctioned Russian oligarchs, and corrupt officials have illegal luxury properties in Dubai. 

The European parliamentarian members have proposed to blacklist the United Arab Emirates as the investigation of “Dubai Uncovered” leaks has unveiled revelations of criminals, Russian politicians, sanctioned oligarchs and corrupt who have illegally invested their ill-gotten money into luxury properties in Dubai. 

Last week, OCCRP and other 20 investigative journalists played an integral part in uncovering these illicit crimes. Based on a 2020 leak by the Center For Advanced Defense Studies (C4ADS), the “Dubai Uncovered” investigation has drawn the attention of the EU politicians about the implementation of tougher anti-money laundering (AML) measures to be taken by the UAE, lest the elective monarchy face sanctions on par with countries like North Korea. 

Luxury villas and apartments were disclosed in the Dubai Uncovered revelations that were owned by drug smugglers and corrupt officials. Investments in the Dubai real estate market were also found made by several Russian oligarchs. 

The UAE Embassy in Oslo commented in this regard to the Norwegian outlet E24 that the accusations made about the Dubai property ownership are totally imprecise. Further exertion was shown on how UAE strictly stays in compliance with the regulatory measures for preventing financial crimes. 

EU parliamentarian Markus Ferber from the European People’s Party (EPP) while contradicting the statement said “United Arab Emirate has very loose anti-money laundering (AML) provisions as it has once again been made clear by the “Dubai Uncovered” investigation.”

Ferber, a deputy financial policy spokesperson of the European parliamentary subcommittee on tax affairs, stated “The next time the European Union revises its sanctioned countries list, they must overlook the UAE as it poses a strong case which cannot be avoided for putting UAE on that list”.

Support was drawn from the lawmakers of the Green and Social Democrats, as well as Liberal MPs on the “Dubai Uncovered” revelations for blacklisting UAE and taking immediate action for dealing with this matter while submitting a letter to the EU Commissioner for Financial Stability Mairead McGuinness last Wednesday. 

Suggested Read: UAE Central Bank Issues New Anti-Money Laundering Guidelines

Related Posts

News

Malaysia to push mandatory ID checks on social media to curb online scams

Malaysia to push mandatory ID checks on social media to curb online scams

Explore More

News

Michigan Lawmakers propose that Age Verification be mandatory to access pornography

Michigan Lawmakers propose that Age Verification be mandatory to access pornography

Explore More

News

Brazil enacts new law to regulate children’s use of social media and digital platforms

Brazil enacts new law to regulate children’s use of social media and digital platforms

Explore More

News

ChatGPT to introduce age checks after the UK’s teen death sparks lawsuits

ChatGPT to introduce age checks after the UK’s teen death sparks lawsuits

Explore More

News

Australia’s Under-16 Social Media Ban allows a margin of error in age verification

Australia’s Under-16 Social Media Ban allows a margin of error in age verification

Explore More

News

New York outlines age checks and parental consent for minors under the SAFE for Kids Act

New York outlines age checks and parental consent for minors under the SAFE for Kids Act

Explore More

News

Wolfsberg Group Urges Financial Institutions to Adopt AI for Monitoring Suspicious Activities

Wolfsberg Group Urges Financial Institutions to Adopt AI for Monitoring Suspicious Activities

Explore More

News

Malaysia to push mandatory ID checks on social media to curb online scams

Malaysia to push mandatory ID checks on social media to curb online scams

Explore More

News

Michigan Lawmakers propose that Age Verification be mandatory to access pornography

Michigan Lawmakers propose that Age Verification be mandatory to access pornography

Explore More

News

Brazil enacts new law to regulate children’s use of social media and digital platforms

Brazil enacts new law to regulate children’s use of social media and digital platforms

Explore More

News

ChatGPT to introduce age checks after the UK’s teen death sparks lawsuits

ChatGPT to introduce age checks after the UK’s teen death sparks lawsuits

Explore More

News

Australia’s Under-16 Social Media Ban allows a margin of error in age verification

Australia’s Under-16 Social Media Ban allows a margin of error in age verification

Explore More

News

New York outlines age checks and parental consent for minors under the SAFE for Kids Act

New York outlines age checks and parental consent for minors under the SAFE for Kids Act

Explore More

News

Wolfsberg Group Urges Financial Institutions to Adopt AI for Monitoring Suspicious Activities

Wolfsberg Group Urges Financial Institutions to Adopt AI for Monitoring Suspicious Activities

Explore More

Take the next steps to better security.

Contact us

Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

Contact us

Request demo

Get free access to our platform and try our products today.

Get started