EU urges Gibraltar to do more to combat money laundering

The EU has said that Gibraltar must do more to combat money laundering and terrorism financing, after "shortcomings" in compliance with international standards were identified by the European Union's anti-money laundering body MONEYVAL.  Whereas improvements were acknowledged in relation to inter-agency cooperation, Gibraltar did not demonstrate effective investigation and prosecution of money laundering offences, the EU's watchdog report said. MONEYVAL said that while Gibraltar's legislative framework provided "a solid basis" to detect, investigate and prosecute these types of offenc...