With the greatest respect to the sovereign nations included on the ‘grey list’, it is hard not to notice that the UAE looks like an anomaly. With almost one third of the 23 nations listed found comfortably in the top 30 Fragile States Index, formerly known as the Failed States Index, the spectrum might suggest a more nuanced approach, as opposed to categorising a fiscally responsible, global trade hub with one of the lowest crime rates in the world in the same bracket as countries rife with urban warfare, human trafficking and illegal arms dealing. As an indicator of widespread corruption and criminality, non-provision of public services, involuntary movement of populations and sharp economic decline, it is almost a given that such states would be easy targets for money laundering and terrorism financing, particularly when the general population has more pressing issues such as famine, poverty, and violence to contend with. Nevertheless, under FATF’s guidance, we must assume that like the UAE, each of these nations have also been identified as having weaknesses in their financial systems with each acknowledging to address them in due course. Incidentally, the UAE ranks in the top 30 of least failed nations, just ahead of the United Kingdom.