Gibraltar co-authors guidance on proliferation financing risks

Gibraltar has co-authored new international guidance designed to help small states and territories identify and manage the risk of proliferation financing.

The paper, Guidance on Identifying, Assessing and Understanding the Risk for Proliferation Financing in Small States and Territories, was produced by the Small States and Territories Working Group and co-led by Gibraltar and the Isle of Man.

It was formally presented to the MONEYVAL plenary in December 2025 and has now been published by the Government of Gibraltar.

Proliferation financing refers to the movement or use of funds and other assets to support the development, acquisition or movement of weapons of mass destruction and related materials.

The guidance sets out a practical framework to help smaller jurisdictions identify vulnerabilities, understand how risks may arise and design proportionate controls.

It covers sectors including financial services, shipping, trade, trust and company services and virtual assets.

The paper notes that a lack of domestic cases should not be interpreted as a lack of risk, particularly given that proliferation financing is often rare, complex and transnational.

Although developed by jurisdictions that participate in MONEYVAL, the guidance has been written for small states and territories globally, including those outside Europe with open economies, international financial centres, maritime activity or limited access to specialist intelligence.

The Small States and Territories Working Group includes Andorra, Gibraltar, Guernsey, the Holy See/Vatican City, the Isle of Man, Jersey, Liechtenstein, Malta, Monaco and San Marino.

The Minister for Justice, Trade and Industry, Nigel Feetham, said: "Proliferation financing is one of the most serious and least visible financial crime threats we face. It does not always present through obvious cases, particularly in smaller jurisdictions, but the consequences of getting it wrong are profound.”

“This guidance reflects Gibraltar’s commitment to playing a responsible role internationally, sharing our experience and learning from others, and ensuring that even small jurisdictions have the tools they need to meet global expectations."

He added: "I am proud that Gibraltar co-led this work with the Isle of Man and that it was presented at the MONEYVAL plenary. It demonstrates the value of collaboration between small jurisdictions and shows that we can make a meaningful contribution to strengthening the global response to financial crime and proliferation risks."

The guidance is available on the Gibraltar Financial Intelligence Unit website https://gfiu.gov.gi