Gibraltar Financial Intelligence Unit Publishes Annual Report Highlighting Efforts to Combat Money Laundering and Terrorist Financing

The Gibraltar Financial Intelligence Unit (GFIU) has released its Annual Report for 2023, providing insight into the unit’s significant efforts in combating money laundering, terrorist financing, proliferation financing, and other criminal conduct.

Key Findings and Analysis

Strategic Analysis

The report features a strategic analysis section that compares data from 2022 and 2023. This analysis aims to better understand and tackle the evolving methods and techniques used by criminals and terrorists. This insight will play a crucial role in shaping future policies, initiatives, and Gibraltar’s next National Risk Assessment following its removal from the FATF grey list.

Collaboration and Innovation

GFIU Director Edgar Lopez emphasized the importance of collaboration and innovation in achieving these goals. He stated that “the publication of GFIU’s Annual Report highlights our commitment to achieve the highest possible standards in financial intelligence through collaboration and innovation.” Lopez also highlighted the unit’s significant progress in 2023, despite increasing demands on its resources.

GFIU: A Key Player in Financial Intelligence

Background and Purpose

The GFIU was established in January 1996 with the aim of facilitating the receipt, analysis, and dissemination of suspicious transaction reports or suspicious activity reports from financial and other institutions.

Achievements and Progress

Despite increasing demands on its resources, the GFIU has made significant progress in 2023. The publication of this annual report highlights the unit’s commitment to achieving the highest possible standards in financial intelligence through collaboration and innovation.

Accessing the Report

The full report can be accessed by clicking here.