A delegation from Gibraltar has participated in the first Joint FATF-MONEYVAL Plenary held at the Council of Europe in Strasbourg, which brought together 200 countries. The Plenary provides a forum for international dialogue and cooperation in the fight against money laundering, terrorist financing, and the financing of the proliferation of weapons of mass destruction. 

Gibraltar is currently preparing for its upcoming evaluation under the new revised FATF Standards, which sets the threshold for proving effectiveness higher, particularly for small jurisdictions like Gibraltar. 

Participation in these fora is important for Gibraltar, allowing delegates to observe how countries are responding to the new requirements, identify areas of best practice, and evaluate how Gibraltar’s own frameworks may need to adapt or evolve in response. 

The Plenary coincided with the welcome announcement by the European Commission of their legislative proposal to remove Gibraltar from the EU list of high-risk third countries, often referred to as the “EU grey list.” This recognition reflects Gibraltar’s ongoing progress in strengthening its AML/CFT regime. 

Gibraltar's National Coordinator for AML/CFT (Delegate), Annette Perales, the Director of the Gibraltar Financial Intelligence Unit, Edgar Lopez, and the Technical Expert of the AML/CFT Supervision Team at the Gibraltar Financial Services Commission, Justin Montovio, actively participated in working group meetings. 

Minister for Justice, Trade and Industry, Nigel Feetham, said, “As we now prepare for our next MONEYVAL evaluation, the Government remains fully committed to continuing to support our law enforcement agencies and regulatory bodies to maintain the international standards set by the FATF.” 

National Coordinator (Delegate), Annette Perales said “We are grateful to Minister Feetham for supporting the Gibraltar delegation’s active participation at this important Plenary, where our engagement with other jurisdictions and international bodies represented, is so important in informing our national preparations.” 

Mr Edgar Lopez said, "Attending the Joint FATF-MONEYVAL Plenary was an excellent opportunity for Gibraltar. It allows us to learn about the practical application of the new process so that we can refine our existing procedures and identify areas for improvement where necessary.”