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Scope and Purpose of Project Nexus

As part of the NRA Action Plan 2016, the Gibraltar Financial Intelligence Unit (GFIU) identified the need to initiate a structured outreach program to re-visit all financial and non-financial reporting entities. Project Nexus is an initiative that will reach out to reporting entities that are obligated by law to submit Suspicious Activity Reports (SARs).

GFIU has sought the support from key partners and other stakeholders to ensure that the role of financial intelligence and the contribution it makes is clearly understood in protecting Gibraltar’s Financial Centre from Money Laundering and Terrorist Financing risks.

Stakeholders will enhance awareness, 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.

The project will be delivered through informal meetings with reporting officers or through formal seminars, in collaboration with the Gibraltar Association of Compliance Officers (GACO). Notice of these meetings will be provided in advance in order for the necessary arrangements to be made.

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