A training session aimed at strengthening the legal profession’s role in Gibraltar’s anti-money laundering, combatting the financing of terrorism, and counter-proliferation financing (AML/CFT/CPF) framework was held for the legal sector today. It was delivered collaboratively by the Gibraltar Financial Intelligence Unit (GFIU), the Legal Services Regulatory Authority (LSRA) and Gibraltar Association of Compliance Officers (GACO).

The speakers were Mr Michael Adamberry, Crown Counsel working for the Ministry of Justice, the Director of GFIU, Edgar Lopez, and its Head of Operations, Carl Ramagge. The session brought together legal practitioners, including senior partners and associates, to enhance their understanding of AML/CFT/CPF obligations and their knowledge of money laundering, terrorist financing and proliferation financing (ML/TF/PF) risks and red flag indicators relevant to the legal sector’s exposure to financial crime.

There was a focus on the number and quality of Suspicious Activity Reports (SARs) submitted by Gibraltar’s legal sector. Legal services are attractive for criminals who seek to abuse these to carry out ML/TF/PF. It is therefore vital that the sector submits SARs to assist Gibraltar’s wider AML/CFT/CPF efforts. Case studies enabled a practical and interactive approach to addressing vulnerabilities within the profession and reinforced the importance of timely and high-quality SAR submissions.

This is the second session of a three-part series and demonstrates the value of effective collaboration between public authorities, including both Government authorities and the LSRA, which is independent. This reflects Gibraltar’s coordinated effort to protect the legal sector from abuse by criminals, combining the GFIU’s operational insights with the LSRA’s independent regulatory oversight.

The Minister for Justice, the Hon. Nigel Feetham, MP KC, stated, "Gibraltar is committed to improving the submission of SARs through proactive engagement and tailored capacity-building, through session like this one. This session highlights the vital role of legal professionals in safeguarding Gibraltar’s financial system against misuse. I am pleased to see strong collaboration between government authorities and the LSRA, working together to deliver focused, high-quality engagement. This is a clear demonstration of our jurisdiction’s commitment to meeting international standards and maintaining a robust and informed legal sector."

The CEO of the LSRA, Mr Francis Muscat, said, “Effective collaboration between the LSRA and the GFIU is essential to enhancing the quantity and quality of SARs for the legal sector. By working closely together with Government authorities, we are supporting legal practices to meet their legal obligations by strengthening awareness and improving guidance. This will ultimately contribute to a more robust and proactive AML/CFT/CPF framework for Gibraltar”.