Gibraltar joins UAE on FATF grey list as government responds to AML scrutiny

Mark Battersby
clock • 1 min read

The Financial Action Task Force has put Gibraltar on its grey list of jurisdictions subject to increased monitoring after finding that the overseas territory's regulators are not fining offenders in line with prescribed penalties or focusing hard enough on intermediaries, including lawyers.  FATF acted on 17 June after a meeting of its plenary decision-making body in which it also took Malta off its grey list.  Malta Chamber of SMEs welcomed Malta's exit from the FATF grey list in a statement last week.  Gibraltar now sits on the list of "jurisdictions with strategic deficiencies" ...

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