Opposition says decision by Financial Action Task Force to keep Gibraltar on its grey list is 'frustrating'

The Opposition says the decision by the Financial Action Task Force to keep Gibraltar on its grey list is “frustrating”.

The GSD says the Government’s response is underwhelming and lacks a detailed roadmap to achieve delisting by the global money laundering and terrorist financing watchdog.

The Opposition spokesman for Financial Services and Gaming, Roy Clinton spoke to Kevin Ruiz.

Meanwhile the Government says it deeply regrets that the GSD Opposition has succumbed to the temptation of politicising the crucial ongoing efforts to remove Gibraltar from the FATF grey list.

It says until now, the Opposition had demonstrated maturity and responsibility in their approach to this delicate matter, having been offered private briefings to stay informed about the progress being made. Number Six adds the GSD is fully aware that this process is subject to strict rules of confidentiality which Government will fully respect even when subjected to unfair and ill-founded criticism.

The Government says substantial and significant progress has been made in its endeavours to address the FATF's requirements, and says its commitment to achieving delisting remains unwavering.

Minister for Digital and Financial Services, the Hon Albert Isola, commented: “Roy Clinton’s statement smacks of political opportunism. While the opposition seeks to undermine our efforts, the Government remains resolute in achieving delisting and restoring our jurisdiction's reputation. It is regrettable that the opposition has abandoned their previous responsible approach for a misconceived political advantage. They really should know better.

“Notwithstanding the GSD opposition’s change in approach, I continue to extend an invitation to the Opposition to meet them and brief them privately.

“I will never tire of thanking our regulators and law enforcement agencies for their professionalism in addressing the FATF requirements and have every confidence we will achieve delisting very soon.”