Financial Action Task Force: Gibraltar Deadlines Have Now “Expired”

The FATF maintains a list of jurisdictions subject to increased monitoring, known colloquially as the “grey list”.

Gibraltar has taken a number of steps to strengthen the effectiveness of its anti-money laundering and counter terrorist financing (AML/ CTF) regime since being placed on the list in the FATF’s June 2022 plenary, the same meeting that saw Malta removed from the same list.

The body said at the time that Gibraltar’s status as a major gambling hub was a significant factor in its decision. In particular the FATF criticised the government’s failure in “applying sufficient fines for anti-money laundering failings”.

...The body noted that one year after being placed on the list all deadlines have now passed... The fatf noted gibraltar’s progress... As such, the FATF encouraged Gibraltar to continue to implement its action plan to address its ongoing strategic deficiencies “as soon as possible”.

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