A training session aimed at strengthening the legal profession’s role in Gibraltar’s anti-money  laundering, combatting the financing of terrorism, and counter-proliferation financing  (AML/CFT/CPF) framework was held for the legal sector today. 

A statement from the Government follows below:

It was delivered collaboratively by  the Gibraltar Financial Intelligence Unit (GFIU), the Legal Services Regulatory Authority (LSRA) and  Gibraltar Association of Compliance Officers (GACO).  

The speakers were Mr Michael Adamberry, Crown Counsel working for the Ministry of Justice, the  Director of GFIU, Edgar Lopez, and its Head of Operations, Carl Ramagge. The session brought  together legal practitioners, including senior partners and associates, to enhance their  understanding of AML/CFT/CPF obligations and their knowledge of money laundering, terrorist  financing and proliferation financing (ML/TF/PF) risks and red flag indicators relevant to the legal  sector’s exposure to financial crime.  

There was a focus on the number and quality of Suspicious Activity Reports (SARs) submitted by  Gibraltar’s legal sector. Legal services are attractive for criminals who seek to abuse these to carry  out ML/TF/PF. It is therefore vital that the sector submits SARs to assist Gibraltar’s wider  AML/CFT/CPF efforts. Case studies enabled a practical and interactive approach to addressing  vulnerabilities within the profession and reinforced the importance of timely and high-quality SAR  submissions. 

This is the second session of a three-part series and demonstrates the value of effective  collaboration between public authorities, including both Government authorities and the LSRA,  which is independent. This reflects Gibraltar’s coordinated effort to protect the legal sector from  abuse by criminals, combining the GFIU’s operational insights with the LSRA’s independent  regulatory oversight. 

The Minister for Justice, the Hon. Nigel Feetham, MP KC, stated, "Gibraltar is committed to  improving the submission of SARs through proactive engagement and tailored capacity-building,  through session like this one. This session highlights the vital role of legal professionals in  safeguarding Gibraltar’s financial system against misuse. I am pleased to see strong collaboration  between government authorities and the LSRA, working together to deliver focused, high-quality  engagement. This is a clear demonstration of our jurisdiction’s commitment to meeting  international standards and maintaining a robust and informed legal sector."

The CEO of the LSRA, Mr Francis Muscat, said, “Effective collaboration between the LSRA and the  GFIU is essential to enhancing the quantity and quality of SARs for the legal sector. By working  closely together with Government authorities, we are supporting legal practices to meet their legal  obligations by strengthening awareness and improving guidance. This will ultimately contribute to  a more robust and proactive AML/CFT/CPF framework for Gibraltar”.