Back MONEYVAL welcomes Gibraltar’s removal from the FATF's "grey list"

MONEYVAL welcomes Gibraltar’s removal from the FATF's

The Council of Europe´s anti money laundering and counter terrorist financing body MONEYVAL welcomed that the Financial Action Task Force (FATF) decided at its plenary meeting held in Paris, from 21 to 24 February that Gibraltar will no longer be subject to the FATF's monitoring under its ongoing global anti-money laundering and counter-terrorist financing (AML/CFT) compliance process (the so-called "grey list").

Gibraltar is expected to continue working with MONEYVAL to sustain its improvements in its AML/CFT system . The FATF was satisfied that all strategic AML/CFT deficiencies earlier identified by the FATF and included in an action plan were addressed, implementation has begun and is being sustained, and there is both the high-level political commitment and institutional capacity to continue implementation of the AML/CFT reforms in the future.

MONEYVAL's Chair, Nicola Muccioli, said: "On behalf of MONEYVAL, I would like to warmly congratulate Gibraltar for their tremendous progress in a short time period to improve the effectiveness of its AML/CFT regime. MONEYVAL will continue working with Gibraltar through its follow-up process to successfully continue to further strengthen this regime."

STRASBOURG 29.02.2024
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