European Parliament Blocks Proposal to Remove UAE from EU’s Anti-Money Laundering High-Risk List

Here is a summary of the provided document:

Summary:
The European Commission has called on the European Union (EU) to include the United Arab Emirates (UAE) on its list of high-risk third countries due to its failure to address shortcomings related to anti-money laundering (AML) and combating the financing of terrorism (CFT). The UAE is home to corrupt individuals and kleptocrats who have been able to launder their ill-gotten gains with little scrutiny. The Financial Action Task Force (FATF) has also raised concerns about the UAE's AML/CFT regime. The European Parliament has voted to uphold the current list, which means that the European Commission must now provide evidence to prove that the UAE has addressed these issues before the country can be removed from the list.