An international organization that examines the status of anti-money laundering measures in each country to obscure the source of fraudulently obtained funds has announced that it will target the Middle East's business base, UAE = United Arab Emirates, for increased surveillance. did.
As competition to attract foreign companies intensifies in the Middle East, the UAE will be forced to strengthen its measures.
The FATF (Financial Action Task Force), an international organization, examines the status of measures against money laundering by governments of each country, and if it judges that it is insufficient, it designates it as a target for strengthening monitoring and requests further measures.
The FATF has newly designated the UAE as a target country for increased surveillance on the 4th.
The reason is not disclosed.
However, although the UAE has been promoting a "less regulated business environment" in promoting the attraction of foreign companies, it has been pointed out that the financial authorities have not been thoroughly monitored.
In Dubai, the largest city with a global gold trading market, gold that seems to have been illegally mined has been redeemed, and experts have pointed out that it is insufficient to confirm the place of production and how to obtain it. increase.
In the Middle East, competition is fierce, with neighboring Saudi Arabia focusing on attracting foreign companies.
The UAE government has been forced to strengthen its measures in response to this designation, and has commented that it will "focus on cracking down on illegal financial transactions."