Gibraltar Boosts Compliance with Anti-Terrorist Financing Standards, Report Says

Gibraltar has made significant progress in improving its compliance with international anti-money laundering (AML) and combating the financing of terrorism (CFT) standards, according to a follow-up report by MONEYVAL, a regional body member of FATF.

Substantial Improvements Across Key Recommendations

The report highlights that Gibraltar has achieved higher ratings across seven key recommendations, including:

• Enhanced due diligence requirements for correspondent banking relationships
• Monitoring of transactions involving countries with high risk of money laundering or terrorist financing
• Strengthened supervision of virtual asset service providers (VASPs)

Gibraltar’s efforts have led to a re-rating of these recommendations, demonstrating its commitment to upholding international standards.

Strong Compliance Profile

The report praises Gibraltar’s significant improvements in its AML/CFT regime, citing:

• 23 recommendations rated as compliant
• 16 recommendations rated as largely compliant
• Only one recommendation partially compliant
• No non-compliant ratings

This strong compliance profile underscores Gibraltar’s reputation as a responsible and cooperative jurisdiction in the global financial system.

Ongoing Commitment to International Standards

These developments demonstrate Gibraltar’s ongoing commitment to upholding international standards against money laundering and terrorist financing. By strengthening its AML/CFT regime, Gibraltar is ensuring that it remains a responsible and reliable player in the global financial system.

By achieving higher ratings across key recommendations, Gibraltar has demonstrated its dedication to combating money laundering and terrorist financing, while also maintaining its position as a responsible and cooperative jurisdiction.