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Gibraltar Financial Intelligence Unit Strengthens International Partnerships to Combat Economic Crime
The Gibraltar Financial Intelligence Unit (GFIU) has solidified its commitment to combating economic crime by forging stronger partnerships with international organizations and law enforcement agencies. The GFIU’s efforts have enabled the unit to enhance its capabilities in detecting, preventing, and disrupting illicit financial activities.
Quad Island Forum of Financial Intelligence Units
The GFIU is a member of the Quad Island Forum of Financial Intelligence Units, which comprises FIUs from Guernsey, Isle of Man, Jersey, and Gibraltar. This partnership enables the sharing of intelligence, operational objectives, and best practices in combating economic crime. The forum recognizes the importance of international cooperation in the fight against money laundering and financing of terrorism.
International Anti-Corruption Commission
The GFIU is also an Associate Member of the International Anti-Corruption Commission (IACCC), a partnership that brings together law enforcement agencies from around the world to combat grand corruption. The IACCC provides valuable training opportunities for the GFIU, including courses on bribery and corruption, cryptocurrency investigations, and open-source intelligence.
Public-Private Partnership
In June 2022, the GFIU established a Public-Private Partnership with key stakeholders to fight economic crime. This partnership aims to leverage the expertise of both public and private sectors to combat financial crimes more effectively.
Inter-Agency Working Group
The GFIU is also a member of the Inter-Agency Working Group, which ensures collaboration between law enforcement agencies and supervisory bodies in Gibraltar. The unit’s independence and autonomy enable it to engage with individual partners and formalize cooperation through Memorandums of Understanding (MoUs).
Awards and Recognition
The GFIU’s efforts have been recognized through several awards and nominations. In 2022, the unit was awarded the “Best Financial Intelligence Unit” at the International Association of Financial Intelligence Units’ annual conference.
The GFIU’s commitment to combating economic crime is unwavering, and its strengthened partnerships with international organizations and law enforcement agencies will continue to play a crucial role in protecting Gibraltar’s financial system.