Financial Crime World

Gibraltar’s Financial Intelligence Unit Contributes to Global Fight Against Money Laundering and Terrorist Financing

Gibraltar’s Financial Intelligence Unit (GFIU) has made a significant impact in the global fight against money laundering and terrorist financing, both domestically and internationally. As a member of the Egmont Group, the GFIU collaborates with key partners through numerous Memorandum of Understanding (MoUs), ensuring a framework for information exchange.

About the Egmont Group

Established in 1995, the Egmont Group is an international forum comprising 170 Financial Intelligence Units (FIUs). Gibraltar was officially admitted as a member in June 2004. The GFIU provides a platform for the secure exchange of expertise and financial intelligence to combat money laundering and terrorist financing using a secure communication system called the ‘Egmont Secure Web’ (ESW).

International Cooperation

In 2019, Gibraltar underwent an evaluation by the Council of Europe Expert Committee on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL). The resulting report detailed the effectiveness of Gibraltar’s anti-money laundering and counter-terrorism financing system and its level of compliance with the Financial Action Task Force (FATF) Recommendations and Standards. The report can be downloaded online.

IACCC Membership

As an associate member of the International Anti-Corruption Coordination Centre (IACCC), since July 2020, the GFIU demonstrates its commitment to ensuring that Gibraltar denies criminals’ access to their assets. The IACCC brings together specialist law enforcement officers from multiple agencies around the world to tackle allegations of grand corruption.

Key Takeaways

  • Gibraltar’s Financial Intelligence Unit (GFIU) has made a significant contribution in the global fight against money laundering and terrorist financing.
  • The GFIU is a member of the Egmont Group, an international forum comprising 170 Financial Intelligence Units (FIUs).
  • The GFIU provides a platform for the secure exchange of expertise and financial intelligence to combat money laundering and terrorist financing.
  • Gibraltar has undergone evaluations by the Council of Europe Expert Committee on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) and the Financial Action Task Force (FATF).
  • The GFIU is an associate member of the International Anti-Corruption Coordination Centre (IACCC).