Gibraltar has been introduced as one of many 4 jurisdictions faraway from the Monetary Motion Activity Pressure’s (FATF) gray record. The choice got here after the FATF Plenary held from February twenty first to twenty fourth.
Becoming a member of Gibraltar on this elimination are Uganda, Barbados, and the United Arab Emirates. The Plenary acknowledged the numerous progress made by these jurisdictions in addressing anti-money laundering (AML) and counter-terrorist financing (CTF) points highlighted in earlier evaluations. Every had beforehand dedicated to an Motion Plan, aiming to resolve particular points inside set timelines.
Because of profitable on-site visits, these nations will now not bear the FATF’s enhanced monitoring course of. As a substitute, they may collaborate with their respective FATF-style regional our bodies to additional fortify their AML/CTF/CPF regimes.
In different selections made on the Plenary, Kenya and Namibia had been added to the gray record, formally termed the “Jurisdictions Beneath Elevated Monitoring.” No new jurisdictions had been labeled as “Excessive-Threat,” topic to speedy motion.
Moreover, Elisa de Anda Madrazo was appointed as the following president of the FATF for a two-year time period beginning on July 1st, 2024. De Anda Madrazo had beforehand served because the FATF vice-president from July 1st, 2020, to June thirtieth, 2023.
