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UAE is on European Commission blacklist

Konstanz

Mentor Group Lifetime
Jan 17, 2020
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It seems this was not a rumor.
UAE has been placed on European Commission AML blacklist:

So, now UAE is on both FATF and EU lists.

I think this will get even harder for UAE companies and UAE residents to open bank accounts
 
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It seems this was not a rumor.
UAE has been placed on European Commission AML blacklist:

So, now UAE is on both FATF and EU lists.

I think this will get even harder for UAE companies and UAE residents to open bank accounts
depends where. Many places just dgaf what eu does.
 
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So seems these EU actions were indeed leaked to press before they happened ns2.


A raft of new countries were added in March also it seems...ouch. Gibraltar and Cayman Islands also stand out which happen to be two British overseas territories ;).
 
So seems these EU actions were indeed leaked to press before they happened ns2.


A raft of new countries were added in March also it seems...ouch. Gibraltar and Cayman Islands also stand out which happen to be two British overseas territories ;).
They also added 2 African countries. Eu is so racist, it is unbelievable.
These lists are highly discriminatory and Ursulaland should not allow this to happen.
;)
 
The problems is that it's very hard to get out this EU commission list. Even harder than FATF.
Will see how it will go for UAE. But I think EU bank correspodents will put even more pressure to UAE banks. So we can expect more stuck payments and hard to work through UAE entities
 
Will see how it will go for UAE. But I think EU bank correspodents will put even more pressure to UAE banks.

Some may just cut correspondence banking relationships as it's not worth the hassle. And lets be honest there is a lot of dirty or untaxed money flowing into UAE anyway...lol.
 
The decision, in my opinion, has nothing to do with KYC or AML - it is all about politics and pressure, as the UAE does not participate in the sanctions against Russia. This is of course a thorn in the EU's side and a desperate attempt by the EU to achieve its goal.

That's true and headlines like the below last year don't help sadly.

Dubai and UAE should be blacklisted and face sanctions for sheltering oligarchs and 'dirty money'​

 
Some may just cut correspondence banking relationships as it's not worth the hassle. And lets be honest there is a lot of dirty or untaxed money flowing into UAE anyway...lol.
The issues will go beyond having more hassle / less choice from EUR correspondent banks. All transactions (bank transfers, real estate, etc.) from UAE to the EU will unfortunately be more scrutinized and seen more suspiciously.
 
The issues will go beyond having more hassle / less choice from EUR correspondent banks. All transactions (bank transfers, real estate, etc.) from UAE to the EU will unfortunately be more scrutinized and seen more suspiciously.
does it mean your bank account could get closed if you move to uae or bank would get annoying(for which you are already client) ? incl non eu ?
 
What seriously ? You think all people moving their residency to uae will lose their hsbc, sq, saxo, or have harder time with them?
All these banks/brokerages have branches in UAE. I guess, they will still be able to serve their clients via their branches under UAE license but not from EU. And you won't be able to move funds between EU and UAE accounts anymore. The question is whether it will still be possible via Swiss or UK accounts or whether the EU will blackmail them as well.
 

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