September 17, 2024
The Gibraltar Financial Intelligence Unit (GFIU) have been busy during the National Day celebrations. Its Director, Edgar Lopez, was invited by the Taiwan National Police Agency to participate as a speaker and panellist at the ‘2024 International Forum on Police Cooperation - Combating Transnational Fraud’, held between 9 to 11 September 2024, in Taipei, Taiwan. The event brought together around 200 attendees from 30 countries, with representatives from a wide range of law enforcement agencies.
During the forum, Mr Lopez contributed to the new trends in crypto crime session, focusing on the abuse of the cyberspace to conduct sophisticated virtual asset-related crime on crypto exchanges. "The evolving nature of transnational crime presents significant challenges to law enforcement agencies, FIUs, and regulators worldwide," expressed Mr Lopez. "As these borderless illicit activities become more sophisticated, it is important for us to collaborate, share insights, and develop new strategies to keep up to date and protect our finance centre."
The forum provided a platform for international experts to share knowledge and best practices, emphasising the importance of enhancing the exchange of information and developing public-private partnerships. Mr Lopez said, “The common denominator of all the presentations was improving the exchange of information, sharing best practices, and the importance of public-private partnerships," adding that, "it was a privilege to contribute to this conversation and to share our experiences and insights with like-minded partners committed to tackling these global challenges."
In addition to the forum, Mr Lopez was invited to visit the Taiwanese Financial Intelligence Unit and meet the Director General of the Ministry of Justice Investigation Bureau (MJIB). During this visit, he delivered a speech to MJIB staff highlighting the importance of cooperation and collaboration in combating transnational crime and reinforcing the importance of international partnerships in staying ahead of emerging threats. He also covered the challenges of emerging technologies such as artificial intelligence and how these are being abused by criminals to circumvent anti money laundering measures, stressing that these technologies should work for us and not against us.
The 2024 International Forum on Police Cooperation provided an invaluable opportunity to strengthen international cooperation and develop new strategies to combat the growing threat of transnational crypto crimes. The GFIU is committed to being at the forefront of this global effort and looks forward to continued collaboration with international partners to address these residual and emerging threats in line with its 3-year Strategic Plan to enhance its collaboration and partnership.
In a separate event, the GFIU’s Head of Operations and Legal, Carl Ramagge, was invited to London to address the Anti Money Laundering Group of the UK Gaming and Betting Council, GAMLG.
Mr Ramagge provided an audience at the prestigious Les Ambassedeurs Club with valuable insights into the current and residual trends and typologies in financial crime in the Gaming sector, providing useful and real experiences and insights from the FIU’s perspective.
His attendance served to further GFIU’s strategic aim of enhancing international partnerships with both public and private sector bodies. As the largest reporting sector in Gibraltar collaborating with the UK’s arm of the Gaming and Betting Council is a positive strategic move.
Minister for Justice, Mr Nigel Feetham KC MP, said that “Gibraltar remains firmly committed to upholding the highest standards in the fight against financial crime. I am grateful to the Gibraltar Financial Intelligence Unit for their ongoing efforts in providing valuable insights and representing Gibraltar on the international stage—whether tackling transnational crime at the forum in Taiwan or engaging in discussions with the UK Gaming and Betting Council’s Anti-Money Laundering Group. These contributions underscore Gibraltar’s active role in protecting our financial system, both at home and abroad.”
ENDS