Terrorist financing threat facing Gibraltar

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 Monday, March 29, 2021 - 11:00

The Gibraltar Financial Intelligence Unit, in its annual report, covers a wide range of topics. Here is an extract of what it says under 'Counter Terrorist Financial' guidance:
GEOGRAPHIC AND POLITICAL LINK: SPAIN
Gibraltar needs to be aware of the TF risks present in Spain given she is our closest neighbour with whom daily trade is conducted across all sectors of the economy. The most recent FATF follow-up report is to be found here. 


It notes that:
1. Spain continues to face a high risk of TF from Jihadist terrorist groups, including a slight increase in the risks of returning foreign terrorist fighters.
2. The risk of radicalised individuals supporting terrorist organisations by providing funds, including through the misuse of MVTS providers, remains to be among the key challenges for the competent authorities of Spain.
3. Some types of NPOs continue to be vulnerable to TF abuse as well.

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