John Culatto
MINISTER for Finance Nigel Feetham is ‘confident’ of being able to ease Gibraltar out of the grey list of financial jurisdictions as he prepared for the arrival of a MoneyVal inspection team.
Feetham chaired a meeting on Thursday morning to prepare for the visit of the MoneyVal On-site Inspection team to Gibraltar in the next few weeks.
The meeting of the MoneyVal Inter-Agency Working Group is preparing for the visit after the Financial Action Task Force said this would be the last step before the Rock’s case would be considered again in February.
Removing Gibraltar from the greylist of areas where money laundering and terror financing is easier would be a major step in overcoming Spain’s accusations.
Feetham said he was ‘investing significant time and effort into it’ and would ‘get the job done’ in an X post.
It follows a testing period for Gibraltar’s government which has seen them pass new laws and enforce them over the last two years.
“I am pleased the preparations are at an advanced stage,” Feetham said in a government statement.
“I am looking forward to welcoming the MoneyVal team to Gibraltar in the coming weeks to enable them to do their work.”
Feetham’s expertise in the financial expertise in the field of financial services and insurance have already had an impact on Gibraltar’s international standing.
“We remain absolutely committed to this process and I am actively working on our plans for the next review in years to come,” he added.
The government said Feetham was ‘confident of a positive outcome’ from the investigation that would then lead to Gibraltar being whitelisted.
READ MORE:
- Financial watchdog to remove Gibraltar from tax haven grey list after inspection in February
- Gibraltar works to fight financial crime link with tax fraud after failing to overturn FATF greylisting
- Financial watchdog urges Gibraltar confiscate more suspicious accounts in money laundering fight
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- Gibraltar placed on ‘grey list’ by global money laundering and terrorist financing watchdog
