DORA has created a regulatory framework whereby the financial firms will have to make sure they can withstand, respond to and recover from all types of ICT-related disruptions and threats, with the objective to prevent and mitigate cyber threats. There are a wide range of entities that are affected by DORA. It covers banks, payment institutions, investment firms, crypto assets service providers and more. Additionally, critical third-party ICT providers are also regulated under the regulation....

Financial Crime training plays an important role in firms, ensuring that employees are equipped with the knowledge and skills to identify, prevent and report any instance of suspected money laundering or other financial crimes.  Designed to equip employees with the knowledge and skills to identify, prevent, and report the activities associated with money laundering and financial crime, Financial Crime training is a crucial part of every good compliance process. It generally encompasses a com...

As a follow up from the GACO Risk on the Rock event, the GBC dedicated a full ViewPoint Program to the topic of AI and cyber crime. Aside from the interviews taken on the day of the event from all the speakers as well as the Vice-Chairperson of GACO - Chas Foster - the live broadcasting included various interviews with Alan Pereira, Chief Information Officer of the GFSC.  Various aspects of AI and cyber crime were covered, highlighting that Gibraltar is at the forefront of those developments...

Last week GACO Gibraltar Association of Compliance Officers hosted its biennial Risk on the Rock event with international and local speakers. We had an attendance of 120, mainly local guests, on the fantastic venue of the Sunborn Gibraltar Yacht Hotel Resort! We had the unique Steve Giles as a Master of Ceremony who guided us through this half-day event, once the attendees had enjoyed their lunch and had the opportunity to network with each other.  The conference was addressed by the Mini...

If you've ever wondered about what a decentralized autonomous organizations (DAO) really is, or if and how compliance requirements apply to DAOs, you're not alone. DAOs have the ability to send and receive virtual currency transactions, to hold virtual currency, and to conduct exchange transactions. As the FATF and local regulators increasingly weigh in, it's vital to understand the far-ranging implications of these technologies. Join us in a discussion with Amber D. Scott of Outlier Complian...

Trust and Company Service Provides (TCSPs)  play a key role in the global economy as financial intermediaries, providing an important link between financial institutions and many of their customers. They provide often invaluable assistance to clients in the management of their financial affairs and can therefore significantly impact transactional flows through the financial system. TCSPs are often involved in some way in the establishment and administration of most legal persons and arrangem...