Gibraltar’s Financial Intelligence Unit (GFIU) was formally admitted as a full member of the Egmont Group during the Group’s Annual Plenary session held recently in Guernsey, further enhancing the jurisdiction’s credentials in the fight against global money laundering activities.
The Egmont Group, which has a current total membership of 94 countries, was established in 1995 and brings together anti-money laundering organisations or financial intelligence units from all over the world. The Group aims to improve communication and co-ordination between the various agencies.
Gibraltar first applied for membership in 1998 and whilst the GFIU was found to be fully compliant by the Egmont Group, its application was put on hold due to an objection from Spain to Gibraltar's inclusion as a full and separate member of the group
However, at a Plenary meeting of the Group held on 23 June 2004 Gibraltar was unanimously accorded full membership in its own right.
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