The European Union announced on Tuesday that it has removed the United Arab Emirates from its money laundering “high-risk” list.
The decision reflects the UAE’s efforts to strengthen financial regulations and improve transparency.
Meanwhile, Monaco and nine other jurisdictions were added to the EU’s watchlist for increased scrutiny.
The new additions include Algeria, Angola, Ivory Coast, Kenya, Laos, Lebanon, Namibia, Nepal, and Venezuela.
The European Commission emphasized the need for tighter monitoring of money laundering controls in these countries.
Alongside the UAE, Barbados, Gibraltar, Jamaica, Panama, the Philippines, Senegal, and Uganda were also removed from the list.
The EU’s evolving blacklist aims to pressure countries into adopting stronger anti-money laundering standards.
By adjusting the list, the Commission seeks to protect the integrity of the EU’s financial system.
This regular review highlights the ongoing battle against illicit financial flows worldwide.
The changes underline the importance of vigilance as global money laundering risks shift and emerge.
