The financial watchdog noted that all deadlines had expired, urging the government to implement its action plan.
Gibraltar continues its struggle to address its strategic deficiencies and comply with international anti-money laundering (AML) and counter-terrorism financing (CTF) standards. Despite efforts to rectify the situation, the territory has remained on the Financial Action Task Force (FATF) greylist, which can significantly impact Gibraltar-based operators.
The most recent FATF update outlined the status of all greylisted jurisdictions, focusing on their progress and remaining challenges. Despite Iceland and Malta’s quick progress and eventual redemption, Gibraltar remains on the greylist. The financial watchdog first targeted the territory due to AML and CTF failings and has closely monitored the situation, urging local authorities to implement swift reforms.
Gibraltar continues its struggle to address its strategic deficiencies and comply with international anti-money laundering (AML) and counter-terrorism financing (CTF) standards. Despite efforts to rectify the situation, the territory has remained on the Financial Action Task Force (FATF) greylist, which can significantly impact Gibraltar-based operators.
The most recent FATF update outlined the status of all greylisted jurisdictions, focusing on their progress and remaining challenges. Despite Iceland and Malta’s quick progress and eventual redemption, Gibraltar remains on the greylist. The financial watchdog first targeted the territory due to AML and CTF failings and has closely monitored the situation, urging local authorities to implement swift reforms.