Gibraltar officially removed from EU anti-money laundering risk list

Gibraltar has been formally removed from the European Union's list of "high-risk third countries" for anti-money laundering purposes, marking a significant milestone for the territory's financial services sector.

The delisting from the EU's Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) list took legal effect from Tuesday , following the conclusion of the bloc's legislative process. The EU had previously notified Gibraltar of its intention to remove the territory from the list on 9 July.

The decision eliminates the requirement for enhanced customer due diligence measures that were previously mandatory in EU jurisdictions when conducting transactions or establishing business relationships involving Gibraltar-based entities.

The Minister for Justice, Trade and Industry, Nigel Feetham, welcomed the development, emphasising its practical implications for cross-border commerce.

"With the removal of Gibraltar from the EU AML/CFT List it is important to underscore that this decision is not just about restoring Gibraltar's credentials as a premier financial centre," Mr Feetham said.

"The decision has practical implications too on how business between the EU and Gibraltar is transacted. The synergies which are now formally recognised to exist between our AML/CFT regimes allow for the safe elimination of enhanced customer due diligence measures. This is good for business. It is good for trade."

The minister stressed Gibraltar's commitment to maintaining the trust that had been re-established, stating he had written to EU counterparts to convey his "strong commitment" to continued cooperation on anti-money laundering measures.

Chief Minister Fabian Picardo described the delisting as an "important step" that reflects both the financial services industry's work and Gibraltar's broader relationship with the EU.

"This important step reflects the sterling work of our financial services industry and is also a reflection of the broader, ongoing relationship we are building with the EU," Mr Picardo said.

"It demonstrates that our partners in the treaty negotiations are increasingly behaving like true partners should. This decision reinforces Gibraltar's standing and highlights the value of good faith and constructive engagement."

The Gibraltar government said the achievement underlines the territory's commitment to maintaining the highest international standards in financial regulation and its continued role as a responsible jurisdiction in the global financial system.

The delisting carries both political and reputational significance for Gibraltar, which has worked to strengthen its anti-money laundering framework in recent years.