About

The Gibraltar Financial Intelligence Unit (GFIU) was established in January 1996 to facilitate the receipt, analysis and dissemination of suspicious transaction reports or suspicious activity reports (STRs/ SARs) made by financial and other institutions in accordance with the Drug Trafficking Act 1995, Terrorism Act 2005, Gambling Act 2005 and Proceeds of Crime Act 2015. It is currently staffed by officers from the Royal Gibraltar Police, HM Customs and the Civil Service. The GFIU functions in accordance with the Financial Action Task Force (FATF) Recommendations and Standards and is evaluated by the Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL).

The GFIU maintains a database of all the disclosures and other financial intelligence arising out of any enquiries conducted into them. The disclosures are allocated to law enforcement agencies such as the HM Customs Gibraltar, the Royal Gibraltar Police or other regulatory body for action. GFIU also provides feedback to financial institutions and through its outreach programme Project Nexus it aims to enhance awareness on money laundering, terrorist financing, human trafficking and proliferation of weapons of mass destruction. It also aims to improve working practices, increase communication fluidity and create a forum in order to keep abreast with current legislation, dynamic financial obligations and the evolving methods used by criminals and terrorists to launder money.

In July 2004, the GFIU was accepted as a full member of the worldwide Egmont Group of Financial Intelligence Units.