The EU’s decision is based on the UAE’s demonstrated efforts to combat financial crime, as positively assessed by the Financial Action Task Force (FATF). In early 2024, FATF removed the UAE from its ‘grey list’ due to substantial legislative improvements.

In September 2024, the UAE adopted a comprehensive national strategy for combating money laundering and terrorist financing for the period 2024–2027. Key elements of the strategy include:

  • Continuous enhancement of legislation to address emerging risks
  • Development of international cooperation for information sharing
  • Strengthened oversight of financial institutions and other private-sector entities
  • Increased transparency of beneficial ownership information
  • Intensified efforts to detect and prevent illicit financial activity

The strategy also accounts for evolving risks associated with virtual assets and emerging forms of cybercrime.