GFIU holds financial intelligence workshop with police and Customs

The Gibraltar Financial Intelligence Unit (GFIU), the Economic Crime Unit of the Royal Gibraltar Police and the Investigation Branch of HM Customs held a workshop this week on the use of financial intelligence.

The workshop focused on the critical areas set out by the Financial Action Task Force relating to the use of financial intelligence, investigations, prosecutions and confiscation of assets.

“In this dynamic and complex environment, collaboration is key to achieving tangible results,” No.6 Convent Place said.

“By working together, the GFIU and law enforcement agencies can better understand their roles and responsibilities and ensure that their efforts are aligned to combat financial crime effectively.”

The former Head of the UK FIU also participated virtually to provide valuable insights and expertise on what financial intelligence is and how to best achieve impactful results using data from Suspicious Activity Reports, giving fresh perspectives on improving processes and using intelligence more effectively.

The workshop was delivered by the GFIU’s Director, Edgar Lopez, and its Head of Operations, Carl Ramagge.

It focused on identifying areas for improvement, learning from strengths and weaknesses, and aligning anti-money laundering strategies.

The Minister for Justice, Nigel Feetham, said: “This workshop reinforces my ministry’s commitment to ensure that all stakeholders collaborate with each other.”

“Working in silos is not an option and I am grateful for the work being done to continuously make improvements to our systems.”