The United Arab Emirates has promised "robust actions" against money-laundering and terrorist financing after the Middle East financial hub was placed on a grey list of countries subject to heightened scrutiny.
The wealthy Gulf state, which includes the freewheeling trade-to-tourism hub Dubai, was named on the Paris-based Financial Action Task Force's 23-strong list on Friday, joining the likes of Yemen, Syria and South Sudan.
Grey-list countries are "actively working with the FATF to address strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing", the global watchdog said in a statement.
UAE officials said they would strive to meet a list of requirements laid down by the taskforce, including increasing prosecutions and identifying sanctions evasion.
