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11th August 2022, 14:10

GSD asks why Government did not explain UK policy to follow FATF decision in June

Published by GBC News

The GSD asks why the Government did not explain, back in June when Gibraltar was first grey-listed by the Financial Action Task Force, that UK policy would see it follow suit and class Gibraltar as a high-risk third country in respect of enhanced customer due diligence requirements.

This comes after a Government statement in which it said the UK's process is to follow the FATF decision on each and every country that's listed with an action plan.

The GSD points out that it was just five days after Minister for Financial Services, Albert Isola, described the Treasury as "extremely supportive" in Parliament, that the Treasury flagged its decision to amend the regulations over Gibraltar.

GBC reporter Christina Cortes spoke to the GSD's Damon Bossino.