APPENDIX 16
Memorandum from Mr Martin Fuggle, Commissioner,
Financial Services Commission, Gibraltar
1. Members of the Foreign Affairs Committee
expressed interest in how the various international anti-terrorism
measures had been brought into effect in Gibraltar. As explained
orally at the time, in general terms Orders in Council were made
in the UK under the United Nations Act. These had the effect of
extending the UN Resolutions to all of the Overseas Territories
and to the Crown Dependencies, and thereby to Gibraltar. They
were promulgated locally under various Legal Notices.
2. In addition, the FSC through its own
website (www.fsc.gi),[68]
provided electronic links to the prime documents and to the UN
and EU lists of names and, more generally, to various other sites
containing names for which institutions should check. Every licensed
entity was advised to undertake rigorous checks of their client
and customer bases, to freeze accounts (where relevant), and to
report any specific findings to the Gibraltar Financial Intelligence
Unit ("GFIU"), the relevant body for these purposes
in Gibraltar. There is a legal obligation to report to the GFIU.
3. The best and most detailed summary of
the arrangements in Gibraltar in relation to combating the financing
of terrorism can be found in a recent self-assessment that the
relevant authorities in Gibraltar have put together in response
to a Special Recommendation of the Financial Action Task Force
(the "FATF"). Attached is a copy of that self-assessment.[69]
Martin Fuggle
1 July 2002
68 The link is on the home page, click on "anti-terrorism
measures". Back
69
Not printed. A copy has been placed in the Library. Back
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