Ministry of Justice launches sanctions training for private sector

The Ministry of Justice has launched a programme of sanctions training for Gibraltar’s private sector, aimed at helping businesses understand their legal obligations and identify and manage potential sanctions risks.

The initiative forms part of the Government’s wider programme of sanctions awareness, training and preparedness, with further sessions planned over the coming weeks.

The training focuses on the practical responsibilities placed on businesses under Gibraltar’s sanctions framework, including the steps firms should take when identifying, escalating and managing potential breaches.

Participants were provided with an overview of Gibraltar’s sanctions framework and how it interacts with United Nations, UK and EU sanctions regimes.

The sessions also covered sanctions screening, customer due diligence, ongoing monitoring, indirect ownership and control, asset freezes, reporting obligations and licensing requirements.

Particular attention was given to the procedures businesses should follow when identifying a potential sanctions issue, including establishing ownership and control, escalating possible matches internally and maintaining appropriate records.

The training also examined circumstances in which funds or economic resources must be frozen, as well as the complexities of cross-border transactions where different sanctions regimes and licensing requirements may apply.

Minister for Justice, Trade and Industry, Nigel Feetham, said it was important for businesses and professionals across Gibraltar to understand their responsibilities.

“Sanctions obligations extend across a wide range of businesses and professions and it is important that those operating within Gibraltar understand both the legal framework and what is expected of them in practice.”

"This training is intended to provide the private sector with practical guidance on issues they may encounter, from screening and ownership structures to reporting, licensing and cross-border transactions.”

"This is the first of several training sessions being offered across a number of dates to provide greater opportunity for the private sector to participate. This forms part of our wider programme to ensure that sanctions awareness and training are maintained on a continuous basis.”

“The objective is to ensure that businesses understand their responsibilities and are able to identify and respond appropriately to sanctions risks when they arise.”

"I am grateful to those from the private sector who have shown a substantial interest in attending."

The Government is encouraging businesses and professionals who have yet to participate to attend one of the remaining sessions.

Further information about the training programme is available by emailing sanctions@gibraltar.gov.gi.