Gib delegation attends first joint FATF-MONEYVAL Plenary in Strasbourg

A delegation from Gibraltar has participated in the first joint FATF-MONEYVAL Plenary, held at the Council of Europe in Strasbourg. The event brought together representatives from 200 countries to discuss international efforts to combat money laundering, terrorist financing, and the financing of the proliferation of weapons of mass destruction.

The plenary comes as Gibraltar prepares for its next evaluation under the revised FATF Standards, which include heightened expectations around demonstrating effectiveness, particularly for smaller jurisdictions.

Participation in the forum enables Gibraltar’s delegates to observe how other countries are adapting to the new requirements, identify best practices, and assess how Gibraltar’s own anti-money laundering and counter-terrorist financing (AML/CFT) frameworks may need to evolve.

The event coincided with the European Commission’s recent proposal to remove Gibraltar from the EU list of high-risk third countries, often referred to as the “EU grey list”, recognising progress made in strengthening Gibraltar’s AML/CFT regime.

Gibraltar’s delegation included the National Coordinator for AML/CFT (Delegate), Annette Perales, the Director of the Gibraltar Financial Intelligence Unit, Edgar Lopez, and the Technical Expert of the AML/CFT Supervision Team at the Gibraltar Financial Services Commission, Justin Montovio. The delegates took part in a series of working group meetings during the plenary.

The Minister for Justice, Trade and Industry, Nigel Feetham, said: “As we now prepare for our next MONEYVAL evaluation, the Government remains fully committed to continuing to support our law enforcement agencies and regulatory bodies to maintain the international standards set by the FATF.”

Ms Perales said: “We are grateful to Minister Feetham for supporting the Gibraltar delegation’s active participation at this important plenary, where our engagement with other jurisdictions and international bodies represented is so important in informing our national preparations.”

Mr Lopez said: “Attending the joint FATF-MONEYVAL Plenary was an excellent opportunity for Gibraltar. It allows us to learn about the practical application of the new process so that we can refine our existing procedures and identify areas for improvement where necessary.”