FATF financial crime watchdog removes UAE and Gibraltar from 'grey list'

The Financial Action Task Force (FATF) international crime watchdog on Friday removed the United Arab Emirates (UAE) and the British territory of Gibraltar from its "grey list" of countries and territories that require increased scrutiny.

The full list of countries and areas removed from that list comprised Barbados, Gibraltar, Uganda and the UAE. The UAE is a major Middle Eastern financial services hub which is home to many global banks, while Gibraltar houses many online gambling companies and cryptocurrency firms.