A new country has just been put under increased surveillance. While Malta has been removed from the “grey list” of countries subject to increased scrutiny by the Financial Action Task Force (FATF), Gibraltar is joining.

Because of its exposure to money laundering, the FATF places Gibraltar under heightened surveillance. On the other hand, the British enclave of Gibraltar is included on this list because “significant deficiencies” have been noted in this territory, which is often cited as one of the main tax havens. “Gibraltar needs to take a number of measures, including focusing on actors in the financial system, especially gambling operators and lawyers,” explained FATF president Marcus Pleyer, calling for more control in the gambling and gambling sectors real estate transactions.

A total of 23 countries are on the list of countries subject to enhanced surveillance. Pakistan, which had hoped to leave the grey list during the plenary meeting, did not get the expected decision, but FATF welcomed the progress made and suggested a change in status if its next monitoring visit is successful. The blacklist of “high-risk” countries remains the same, including Iran and North Korea.