At the heart of the issue is whether the jurisdiction has done enough to clamp down on money laundering and other illicit financial flows. Ben Keith argues that so far, not nearly enough progress has been made to justify the FATF's action in February.
Ben Keith writes for Wealth Briefing, published 04 June 2024. Click here to view the article on the Wealth Briefing website.
Huge controversy accompanied the decision by intergovernmental agency FATF (Financial Action Task Force) to remove the UAE from its “grey list.” This conveyed to the world the erroneous impression that the country is a safe place to do business, one that upholds international laws pertaining to money laundering and sanctions treaties.
Fortunately, members of the European Parliament (MEPs), having initially considered following suit and delisting the UAE from its list of high-risk for financial crime jurisdictions, decided against such action. They gave their reasons as that country’s major role in transnational money-laundering and sanctions-busting schemes...
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Ben Keith is a leading barrister specialising in cross-border and international cases. He deals with all aspects of Extradition, Human Rights, Mutual Legal Assistance, Interpol, Financial crime and International Law including sanctions. He represents governments, political and military leaders, High Net Worth individuals, human rights defenders and business leaders in the most sensitive cases.
He has extensive experience of appellate proceedings before the Administrative and Divisional Courts, Civil and Criminal Divisions of the Court of Appeal as well as applications and appeals to the European Court of Human Rights (ECHR) and United Nations. Ben is recognised in Chambers and Partners and The Legal 500.
