EU Cuts UAE From Money Watchlist, Flags Monaco

The European Commission updated its list of high-risk countries for money laundering and terrorist financing, removing the UAE and several others while adding Algeria, Angola, Côte d'Ivoire, Kenya, Laos, Lebanon, Monaco, Namibia, Nepal, and Venezuela; the move aligns with FATF’s delisting of the UAE but faces scrutiny and potential objection from the European Parliament. Critics cite ongoing concerns about illicit finance and sanctions evasion, amplified by the “Dubai Unlocked” investigation, while Monaco acknowledged its inclusion and efforts to exit the FATF gray list.