Financial Action Task Force places United Arab Emirates on money laundering ‘grey’ list

Tuesday, March 8, 2022

The Financial Action Task Force (FATF) placed the United Arab Emirates on its global grey list March 4 for “strategic deficiencies” in combatting “money laundering, terrorist funding, and proliferation financing”, subjecting it to heightened scrutiny.

The UAE joins 23 countries, including Middle East neighbours Jordan, Syria and Yemen, and Pakistan and Turkey elsewhere in Asia, on the list for active cooperation with the FATF. While less severe than a ‘black’ listing, which includes Iran and North Korea, it could damage the UAE’s business-friendly reputation.

It may also subject the regime to unfavourable rate adjustments, higher costs for transactions and increased competition with fellow Gulf state Saudi Arabia. An International Monetary Fund report published May 2021 found grey-listing resulted in an average negative impact of 7.6% of a country’s GDP, which would be USD27.3 billion of the UAE’s 2020 GDP.

Paris-based watchdog the FATF says grey-listing means “the country has committed to resolve swiftly the identified strategic deficiencies”. A November 2021 follow-up to a 2020 evaluation concluded progress had been made in four areas; the UAE is considered “compliant” or “highly compliant” in 36 of forty recommendations.

In 2018, the country passed a federal decree on money laundering to ensure compliance with international organisations, and has since dedicated four specialised courts toward prosecution. The UAE also formed an Executive Office to combat money laundering and terrorist financing in December 2020. However, the FATF urges improving risk management in certain industries and facilitating domestic and international investigations and prosecutions against money laundering.

They also recommend proactive investigation to identify suspicious transactions and sanctions evasion in its economy.

The Executive Office said: “The UAE will continue its ongoing efforts to identify, disrupt and punish criminals and illicit financial networks in line with FATF’s findings and the UAE’s National Action Plan”. It also pledged “close coordination with our international partners”. Former UAE Foreign Affairs Minister Anwar Gargash wrote on Twitter the UAE remains “resolute in strengthening strategic cooperation with our partners to address this global challenge”.

Katherine Bauer, senior Fellow at The Washington Institute for Near East Policy, criticised the UAE’s “inherent vulnerabilities to illicit finance due to its role as a regional commercial and financial hub”. The former United States Treasury official added the changes needed are not those “that can happen overnight”.

In 2016 the UAE was named in the Panama Papers leak as “home to a thriving trade in financial secrecy” by the International Consortium of Investigative Journalists (ICIJ). The leak implicated numerous Emirati officials in suspicious dealings, including Prime Minister Mohammed bin Rashid Al Maktoum, who is connected with a cybersecurity firm accused of espionage.

The ICIJ called the sheikhdoms “a center for financial crime”. It cited: “Mass surveillance and the monarchy’s firm grip on the courts and media make it difficult to challenge the system or expose suspect business dealings”. Jodi Vittori, a Fellow at the Carnegie Endowment for International Peace, was quoted as saying: “the U.S. seems to have turned a blind eye to [the UAE’s] role in the facilitation of illicit finance, conflict minerals and organized crime.”

The decision to grey-list the UAE was made at the sixth plenary session of the FATF under a German presidency from March 2nd to 4th. Zimbabwe was removed from increased monitoring, and the organisation concluded France had a “robust and sophisticated” framework with room to improve.

Sunday, June 28, 2020

Last month, a study conducted by archæologist Dr. Naomi Martisius and other researchers concluded Neanderthals living in Europe tens of thousands of years ago were more sophisticated than previously thought. The now-extinct species used to carefully select bones from a particular animal species to manufacture their bone tools, the research showed. The research was published on May 8 in Nature’s Scientific Reports journal.

Dr Martisius and her team used five bone tools discovered from Neanderthals’ sites in southwest France for this research. Four of these bone tools were found in a site called Abri Peyrony and the other one was from Pech-de-l’Azé I. These tools were just a few centimetres in size and were about 50 thousand years old, Dr Martisius told Wikinews. Microscopy analysis of these bone tools called lissoirs (smoothers) suggested Neanderthals used these tools for working animal skin to leathers.

The study stated the fauna of the sites were primarily medium-sized ungulates such as reindeer, in one layer nearly 90%. Despite the overabundance of medium-sized ungulates, Neanderthals used ribs of large bovids for making lissoirs. Dr Martisius told Wikinews this was likely due to the physical characteristics of the bovid ribs, which were “thicker” and “stronger” as compared to the “thin and flimsy ribs” of reindeers. In order to check the origins of the bone tools, the researchers used a technology called non-destructive Zooarchæology by Mass Spectrometry (ZooMS).

Instead of damaging the bone artefacts in order to discover its origins, the researchers collected collagen from the plastic containers in which these artefacts were kept. Collagen is a type of protein. These bone artefacts were kept in plastic containers: some were kept for about five years, some for just a few months. During this time, the collagen proteins from bone tools were stuck to the walls of its plastic containers. The collagen samples collected from the walls of the containers are broken into smaller molecules called peptides by using a chemical enzyme called trypsin.

After the trypsin has broken collagen fibres into peptides, it is analysed using a technology called Matrix-assisted laser desorption/ionization (MALDI) Time-of-Flight mass spectrometer (ToF MS). The assisting matrix is a coloured compound. The acidic peptide is combined with the matrix, vapourised, and peptides are released. Some of them are positively-charged particles which travel across a vacuum tube in an electric field. Depending on the weight of the peptides, these molecules reach the end of the vacuum tube at different instances of time, forming a spectrum. These graphs are like unique fingerprints of a species: they are different for different species of animals. Looking at the database of such graphs, taxonomic identifications of the collagen proteins came be made.

All four bone tools from Abri Peyrony gave positive results and showed that the bones were made from large bovids, even though reindeer were more abundant during that time. One of the advantages of using bovid ribs over reindeer’s thin ribs was the bovid ribs would be more resistant to breaking during flexion, Dr Martisius said.

Dr Martisius said such non-destructive ZooMS analysis was previously conducted, but for tools no older than a few centuries. She said such an analysis had never been previously conducted for artefacts so ancient.

Wikinews caught up with Dr Martisius to discuss this research in-depth.

Thursday, February 25, 2010

Ten billion songs have been downloaded from the iTunes Store, an online digital media store which is owned by Apple Incorporated. Louie Sulcer, of Woodstock in Georgia, downloaded “Guess Things Happen That Way” by American musician, Johnny Cash, which became the ten billionth song downloaded from iTunes. Sulcer won an iTunes gift card worth US$10,000 (approximately £6,550 or €7,380), after purchasing a song on the iTunes Store to win the prize.

Beforehand, Apple had launched a competition entitled “Countdown to 10 Billion Song Downloads”, where the person to make the ten billionth “entry” of a song from the iTunes Store would win the gift card. An “entry” could be created by either downloading a song from the iTunes store, or by filling in a form on the Apple website.

The rules of the competition stated that “the downloading of the 10 billionth song is considered to be either the downloading of the 10 billionth song from iTunes or the receipt of the non-purchase entry after the download of the 9,999,999,999th song, whichever comes first.” Below is a table of the twenty most downloaded songs of all time from Apple’s iTunes Store. The list was initially placed on the website.

Thursday, October 29, 2020

The following is the fifth edition of a monthly series chronicling the 2020 United States presidential election. It features original material compiled throughout the previous month after an overview of the month’s biggest stories.

This month’s spotlight on the campaign trail: the Libertarian Party’s presidential nominee secures ballot access in all 50 U.S. states, the Unity Party of America presidential nominee proposes a novel solution to the issue of “packing” the U.S. Supreme Court, and three candidates give their thoughts on the latest military conflict between Armenia and Azerbaijan.

Thursday, March 30, 2006

Charlie Sheen, appearing on cable television news network station CNN on March 24, questioned the credibility of the theory that 19 hijackers caused all of the destruction to the World Trade Center.

Sheen said; “It seems to me like, you know, 19 amateurs with box cutters taking over four commercial airliners and hitting 75 percent of their targets, that feels like a conspiracy theory… I am an American citizen that loves my country…. People want the truth. They want the truth. And what’s been offered to us resembles nothing of the sort.“

In recounting his reaction on the day of the event, Sheen said,”I was up early and we were gonna do a pre-shoot on Spin City, the show I used to do. I was watching the news and the north tower was burning. There was a feeling, it just didn’t look like any commercial jetliner I’ve flown on any time in my life and then when the buildings came down later on that day I said to my brother, ‘Call me insane but did it sorta look like those buildings came down in a controlled demolition?’”

Writer Marc Jacobson, of the New York magazine, who co-appeared with Sheen on the same program said in response: “Well, I think he’s doing a reasonable rendition of what other people that believe in this stuff say. And when he says he has his facts straight, I mean, I think the facts are in question. I mean, I think, just because you know what it says on all of these different Web sites doesn’t mean that that’s necessarily the fact. That’s the reason why the United States government, with their endless amounts of resources, let us down by not doing the proper work on the 9/11 Commission. That’s a real problem. Well, you know, but, I mean, it’s just one of those kind of things where you do this work and nobody really cares, but then Charlie Sheen is interested, so then everybody is interested, and that’s fine. You know, obviously, this material needs to be looked at again, because there’s been a lot of problems with the 9/11 Commission report. People feel it’s not adequate. Most of the people who had lost people during that time feel it’s not adequate. And it’s just I think we’re living in a truth vacuum, in a sense, that any time there’s a truth vacuum, these ideas — because people are smart. They put two and two together. Sometimes they get five; sometimes they get 12, but sometimes they get 11, like 9/11, but sometimes they get four. And the thing is that, if you have a situation where the so-called facts are covered up and aggressively covered up, then you’re going to get these conspiracy theories.” One website is claiming that Google had been censoring out any news articles relating to Sheen and 9/11 from it’s search engine.

Regarding the plane that hit the Pentagon, Sheen also has questions: “Just show us how this particular plane pulled off these maneuvers… It is up to us to reveal the truth. It is up to us because we owe it to the families, we owe it to the victims, we owe it to everyone’s life who was drastically altered, horrifically, that day and forever. We owe it to them to uncover what happened.”

Some supporters of Sheen’s theories have complained about the lack of mainstream media coverage. They point to CNN’s recent cancellation of Ed Asner’s interview on Showbiz Tonight, where he was expected to support Sheen’s position, as an example of the “media blackout”.

Marina Hyde of The Guardian proposed a theory of her own with regard to Sheen: “Frankly, with dentistry as expensive as yours, you simply can’t afford to let The Man stamp his jackboot down on your face, and so it is that when faced with the inquiry ‘did Lee Harvey Oswald act alone?’, you find yourself thinking: ‘God, I mean… do any of us? Like, he had to have people, you know? At least an agent and a publicist.'”

Monday, February 18, 2008

Television producer and owner of the anti-Scientology website www.xenutv.com (XenuTV), Mark Bunker, also known as Wise Beard Man, chatted online with Wikinews for nearly three hours. More than 120 people followed the interview live (many from Project Chanology), which makes this exclusive Wikinews interview our most attended IRC interview to date.

Bunker started XenuTV in 1999 and began to make videos that he provided for the Lisa McPherson Trust. Bunker has been a critic of the Church of Scientology since 1997.

In 2006, he won a Regional Emmy Award after he and KUSI-TV news reporter Lena Lewis produced a documentary news video on the issues with the United States – Mexico border with San Diego, California.

Sunday, August 21, 2005

A robotic system at Stanford Medical Center was used to perform a laparoscopic gastric bypass surgery successfully with a theoretically similar rate of complications to that seen in standard operations. However, as there were only 10 people in the experimental group (and another 10 in the control group), this is not a statistically significant sample.

If this surgical procedure is as successful in large-scale studies, it may lead the way for the use of robotic surgery in even more delicate procedures, such as heart surgery. Note that this is not a fully automated system, as a human doctor controls the operation via remote control. Laparoscopic gastric bypass surgery is a treatment for obesity.

There were concerns that doctors, in the future, might only be trained in the remote control procedure. Ronald G. Latimer, M.D., of Santa Barbara, CA, warned “The fact that surgeons may have to open the patient or might actually need to revert to standard laparoscopic techniques demands that this basic training be a requirement before a robot is purchased. Robots do malfunction, so a backup system is imperative. We should not be seduced to buy this instrument to train surgeons if they are not able to do the primary operations themselves.”

There are precedents for just such a problem occurring. A previous “new technology”, the electrocardiogram (ECG), has lead to a lack of basic education on the older technology, the stethoscope. As a result, many heart conditions now go undiagnosed, especially in children and others who rarely undergo an ECG procedure.