Gibraltar at the Forefront of Global Efforts Against Illicit Finance
Gibraltar's active role in the virtual Illicit Finance Ministerial Dialogue highlights its commitment to combating financial crime in alignment with global standards.
A United Stand Against Financial Crime
Gibraltar recently took center stage at a virtual meeting of Overseas Territories, organized by the Minister for Europe, Stephen Doughty. This pivotal event brought together leaders, ministers, and officials from various regions to cement international cooperation against illicit financing activities. The involvement of the Prime Minister’s Anti-Corruption Champion, Dame Margaret Hodge, underscored the significance of the dialogue.
Gibraltar’s Progress Recognized
The Minister for Justice, Nigel Feetham, proudly highlighted Gibraltar’s achievements in eradicating financial malpractices. By successfully being removed from the FATF and EU grey lists, Gibraltar has proven its compliance with international standards. Mr. Feetham emphasized the strengthening of law enforcement capabilities through better resources, advanced training, and updated legislation.
Mr. Feetham stated, “As part of the British family, we’re strong partners in the fight against money laundering and financial crime. Our commitment to international standards has led to our recognition by the FATF and the European Union. We pledge to keep Gibraltar free from exploitation by illicit actors.”
Collaborative Efforts and Future Plans
Stephen Doughty spoke about the strides made by each overseas territory, and the collaborative future ahead, which includes a major summit planned for 2026. He echoed the need for continued adherence to the international benchmarks and enforcement of UK sanctions.
Doughty stated, “I welcome the proactive approach of overseas territories in implementing global standards. Strengthening enforcement frameworks will remain a priority, and we’re committed to aiding in this pursuit.” Each region’s progress will be reviewed in the upcoming Joint Ministerial Council in November, signaling continued focus and dedication.
Gibraltar’s Dedication to Global Standards
The virtual gathering reflects Gibraltar’s dedicated efforts to prize transparency and integrity within its jurisdiction while playing an integral role at the global level. According to Gibraltar Broadcasting Corporation, these initiatives embody Gibraltar’s strategic alignment with international allies to counter financial crime vigorously.
In conclusion, Gibraltar’s active involvement in such dialogues showcases its leadership and relentless commitment to a unified global front against illicit finance activities.
