Gibraltar Country Summary
Sanctions
No
FATF AML Deficient List
Yes
Terrorism
Corruption
US State ML Assessment
Criminal Markets (GI Index)
EU Tax Blacklist
Offshore Finance Center
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
FATF Status
Gibraltar is no longer on the FATF List of Countries that have been identified as having strategic AML deficiencies
Latest FATF Statement - 23 February 2024
The FATF welcomes Gibraltar’s significant progress in improving its AML/CFT regime. Gibraltar strengthened the effectiveness of its AML/CFT regime to meet the commitments in its action plan regarding the strategic deficiencies that the FATF identified in June 2022 including by (1) applying effective, proportionate, and dissuasive sanctions for AML/CFT breaches in non-bank financial institutions and DNFBPs sectors; and (2) pursuing final confiscation judgments commensurate with the risk and context of Gibraltar. Gibraltar is therefore no longer subject to the FATF’s increased monitoring process.
Gibraltar should continue to work with MONEYVAL to sustain its improvements in its AML/CFT system.
Compliance with FATF Recommendations
The last follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Gibraltar was undertaken in May 2024. According to that Evaluation, Gibraltar was deemed Compliant for 22 and Largely Compliant for 18 of the FATF 40 Recommendations. It remains Highly Effective for 0 and Substantially Effective for 1 of the Effectiveness ratings.
Sanctions
There are no international sanctions currently in force against this country
Bribery & Corruption
| Rating | 0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | NA |
| World Bank: Control of Corruption Percentile Rank | NA |
Economy
Gibraltar's economy is primarily driven by financial services, e-gaming, tourism, and shipping, with significant revenue from duty-free retail sales. The territory enjoys one of the lowest unemployment rates globally, supported by a diverse labor force that includes many workers from Spain and non-Gibraltarians.
Gibraltar presents a favorable investment climate with a low corporate tax rate of 10% and a highly regulated financial sector, making it appealing to international businesses. Its legal system, based on common law, and recognition as a 'white-listed' jurisdiction by the OECD further enhance its attractiveness to investors. However, uncertainties stemming from Brexit and ongoing negotiations regarding cross-border trade and Schengen Area participation pose challenges to maintaining economic stability and foreign investment.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings
