On the 11th January a free virtual presentation was arranged by the Office of Fair Trading (OFT) for local real estate agents and high value goods dealers. The OFT is the anti-money laundering and countering the financing of terrorism (AML/CFT) Supervisory Authority for these businesses.
The presentation was delivered by local consulting firm X-Reg and the Gibraltar Financial Intelligence Unit (GFIU). The presentation covered various topics including beneficial ownership, political exposed persons, record keeping, targeted financial sanction (TFS) checks on both Terrorist Financing (TF) and Proliferation Financing (PF).
The OFT arranged the presentation to assist local businesses to understand and meet their AML/CFT, TFS, TF and PF obligations and to provided compliance officers with an opportunity to better identify and mitigate the risks facing their business.
The OFT would like to thank X-Reg and the GFIU for their support.
Visit the OFT’s website for extensive AML/CFT Guidance for real estate agents and high value goods dealers: https://www.oft.gov.gi/aml-cft