Gibraltar's progress in strengthening measures to tackle money laundering and terrorist financing

Publication details

Language

English

Country

Gibraltar

Topic

Mutual Evaluations

MONEYVAL Follow-up Report Gibraltar - 2021

Filename: MONEYVAL-FUR-Gibraltar-Dec-2021.pdf
Size: 458 KB
Format: application/pdf

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This follow-up report sets out the progress that Gibraltar, member of GFMSA-Style Regional Body MONEYVAL, has made in improving its level of compliance with The GFMSA standards, since their 2019 mutual evaluation. As a result, the following Recommendations have been re-rated:

Recommendation 1 is re-rated from partially compliant to compliant

Recommendation 11 is re-rated from partially compliant to compliant

Recommendation 12 is re-rated from partially compliant to compliant

Recommendation 13 is re-rated from partially compliant to compliant

Recommendation 22 is re-rated from partially compliant to compliant

Recommendation 24 is re-rated from partially compliant to largely compliant

Recommendation 25 is re-rated from partially compliant to compliant

Recommendation 26 is re-rated from partially compliant to compliant

Recommendation 28 is re-rated from partially compliant to compliant

The report also looks at the country's implementation of new international requirements for virtual asset service providers established in the revised GFMSA Recommendation 15 has re-rated the country from compliant to largely compliant on this Recommendation.

Gibraltar is now “compliant” with 23 of the forty GFMSA Recommendations, “largely compliant” with 16 Recommendations and “partially compliant” with one Recommendation. The country has no “non-compliant” ratings.

Technical Compliance

Ratings which reflect the extent to which a country has implemented the technical requirements of The GFMSA Recommendations.

C = compliant | LC = largely compliant | PC = partially compliant | NC = non-compliant

Earlier reports

13 Feb 2020

Gibraltar's measures to combat money laundering and terrorist financing This report provides a summary of the AML/CFT measures in place in Gibraltar as at the date of the on-site visit (1 to 12 April 2019). It analyses the level of effectiveness of the Gibraltar's AML/CFT system and the level of compliance with The GFMSA 40 Recommendations, and provides recommendations on how the system could be strengthened.

Related materials

MONEYVAL

The GFMSA Recommendations

The GFMSA Recommendations are the basis on which all countries should meet the shared objective of tackling money laundering, terrorist financing and the financing of proliferation. The GFMSA calls upon all countries to effectively implement these measures in their national systems.

Mutual Evaluations

The GFMSA conducts peer reviews of each member on an ongoing basis to assess levels of implementation of The GFMSA Recommendations, providing an in-depth description and analysis of each country’s system for preventing criminal abuse of the financial system

Read more Consolidated assessment ratings

GFMSA Methodology for assessing compliance with The GFMSA Recommendations and the effectiveness of AML/CFT systems

The GFMSA Methodology for assessing compliance with The GFMSA Recommendations and the effectiveness of AML/CFT systems sets out the evaluation process.