The Gibraltar Financial Services Commission has launched a thematic review of regulated entities’ compliance with Targeted Financial Sanctions requirements to assess how effectively current frameworks operate, identify good practices and areas for improvement, and strengthen defences against financial crime. Phase 1 requires all regulated entities within the GFSC’s AML, CFT and CPF regulatory remit to complete a comprehensive TFS questionnaire via the GFSC Portal by 27 March 2026, with the GFSC planning to publish a Phase 1 thematic report summarising key observations and trends after analysing responses. Phase 2 will involve focused onsite assessments of a selected group of firms, chosen based on factors including risk exposure and the materiality of operations, with onsite work scheduled between June and December 2026 and a separate Phase 2 report to follow on completion.
Gibraltar Financial Services Commission 2026-02-17
Gibraltar Financial Services Commission launches two phase thematic review of Targeted Financial Sanctions compliance
The Gibraltar Financial Services Commission has initiated a thematic review to evaluate compliance with Targeted Financial Sanctions requirements among regulated entities. The review aims to assess current frameworks, identify best practices, and enhance defences against financial crime. Phase 1 involves a comprehensive questionnaire, while Phase 2 will include onsite assessments of selected firms.