Spanish Government Accuses Falklands/Malvinas of Money Laundering, Adds to Tax Haven List

The Spanish government has taken a bold step by adding the Falklands/Malvinas and Gibraltar to its list of tax havens, suspecting that these territories are engaged in money laundering operations.

A Revised Concept of Non-Cooperative Jurisdictions

According to a revised concept of non-cooperative jurisdictions, 24 countries, territories, and harmful fiscal regimes have been identified as posing a threat to international financial stability. This development comes amid growing concerns over money laundering and tax evasion globally.

The Updated List

The Spanish Bill to Fight Fraud reveals the updated list, which has shrunk from 48 entities thirty years ago, according to The Merco Press. This reduced list suggests that only a select few jurisdictions are still considered to be non-cooperative and pose a threat to international financial stability.

The Concerns Surrounding Money Laundering

The Spanish government’s decision to add the Falklands/Malvinas and Gibraltar to its list of tax havens is a response to growing concerns over money laundering and tax evasion globally. These territories are suspected of being involved in money laundering operations, which can have serious consequences for international financial stability.

What This Means

• The Spanish government has added the Falklands/Malvinas and Gibraltar to its list of tax havens. • 24 countries, territories, and harmful fiscal regimes have been identified as posing a threat to international financial stability. • The updated list has shrunk from 48 entities thirty years ago.