Strengthening Anti-Money Laundering Regime in South Georgia and South Sandwich Islands

The Government of South Georgia and South Sandwich Islands (GSGSSI) has taken significant steps to prevent money laundering in the territory, demonstrating its commitment to strengthening its anti-money laundering (AML) regime.

Enhancing Environmental Protection and Management

As part of its efforts to protect the unique environment of South Georgia and the South Sandwich Islands, 80% of Government expenditure goes towards environmental protection. To ensure continued funding for these initiatives, fees and charges will be increased to support outstanding stewardship and implement the Government’s vision to protect, sustain, and inspire the territory.

Promoting Science and Environmental Management

The GSGSSI has announced the latest round of Darwin Initiative funding for Local, Main, and Strategic proposals, which aims to promote science that contributes to developing and upholding best-practice environmental management. This initiative will support active management and good governance of the Territory.

Commemorative Coins and Tourism Development

To boost tourism and economic development in the territory, the Commissioner is seeking to appoint a suitably competent and experienced Mint to provide high-quality commemorative coins in accordance with designs and specifications provided by the Government.

Sustainable Fishing Practices

GSGSSI has opened the licence application round for the 2024 South Georgia krill fishery, which aims to promote sustainable fishing practices and ensure the long-term conservation of the territory’s natural resources.

Commitment to Responsible Economic Development

The steps taken by GSGSSI demonstrate its commitment to preventing money laundering and promoting economic development in a responsible and sustainable manner. This move is expected to have a positive impact on the territory’s economy and environment, making it an attractive destination for investors and tourists alike.