Gibraltar represented in virtual Illicit Finance Ministerial Dialogue

Gibraltar has been represented at a virtual Overseas Territories meeting on tackling illicit finance.

The meeting was convened by the Minister for Europe, Stephen Doughty, and brought together leaders, ministers and officials from the Ots to discuss the importance of global cooperation. The Prime Minister’s Anti-Corruption Champion, Dame Margaret Hodge, also attended.

The Minister for Justice, Nigel Feetham, provided an update on the steps Gibraltar has taken to combat financial crime.

He spoke about Gibraltar’s removal from the FATF and EU grey lists, as well as its work on beneficial ownership transparency.

Mr Feetham said, “We are part of the British family, and we consider ourselves strong partners of the UK Government in the fight against money laundering and serious financial crime. We have demonstrated our compliance with international standards, having been white-listed by both the FATF and the European Union. We have significantly enhanced the capability of our local law enforcement agencies through increased resourcing, advanced training, and robust legislation. We will not allow Gibraltar to be misused by illicit actors, and we remain fully committed to this global effort.”

Updating the UK Parliament, Stephen Doughty said he reviewed the progress made in each overseas territory, with the next formal review to be held at the next Joint Ministerial Council in November.

Mr Doughty added he also updated overseas territory delegates about the opportunity to work together in support of the Foreign Secretary’s illicit finance campaign, and ahead of a summit on this being planned for 2026.

The Minister for Europe said he welcomed the work of the overseas territories to implement international standards, as well as enforcing UK sanctions. Mr Doughty encouraged the overseas territories to strengthen their enforcement frameworks, adding he underlined his Government’s commitment to supporting them in this work.