GACO is happy to announce its upcoming MLRO Masterclass. Money Laundering Reporting Officers (MLROs) act as the focal point within regulated entities for the oversight of all activity relating to anti-money laundering, counter terrorism and counter proliferation financing (AML/CTF/CPF). Therefore, MLROs need to be equipped with sufficient expertise and knowledge to fulfil their legal obligations. In a current rapidly evolving regulatory landscape, it is crucial for MLROs to continuously stay...

The workshops will focus on the importance of strengthening Crisis prevention training and Safer Gambling, knowledge. In the last year, multiple operators have received hefty fines, license suspension and additional license conditions due to failures in Social Responsibility (SR) and AML. Key issues raised by the regulators included the shortcomings in customer interactions and lack of information regarding affordability and vulnerability. Bookings - Click Here Regulators expect operators...

The FCA’s Consumer Duty represents what the UK regulator terms a “paradigm shift” in its expectations of firms. The Duty introduces a new Consumer Principle, which requires firms conducting regulated activities in the UK “to act to deliver good outcomes for retail customers”. It is relevant to all firms (including those in Gibraltar) who distribute or manufacture products and/or services to retail customers in the UK. The wide-ranging rules require firms to put consumers at the heart of thei...

Gatenox CEO, Pawel Kuskowski invited Carlos M. Martins, Chief Compliance Officer and MLRO of ZUBR and Chairman of GACO (Gibraltar Association of Compliance Officers) to talk about the crypto regulatory environment in Gibraltar. Carlos discussed how Gibraltar implements a principle-based environment where companies are the ones who need to evidence how their policies, processes and procedures are complying with the regulation and how there are various pre-selectio...

Environment, social and governance (ESG) reporting: It’s new, it’s evolving and it’s all over the place. As it stands, comparability between ESG reports is low and the investors’ demand for consistency is high. While most current frameworks are voluntary, they won’t be for long. Reform, global standardization and mandatory disclosure is only a matter of time. The time has come to get prepared for ESG reporting. Let’s explore the biggest obstacles to producing ESG reports so you can start add...

Last night 7th of December 2022 the Gibraltar Association of Compliance Officers held a successful and enjoyable Gin Tasting event for its members at the Garrison Library in Gibraltar. A unique setting in the heart of town. The event gathered Gibraltar Compliance professionals for a delightful gin experience brought and presented by “Spirit of the Rock” Gibraltar, where we had the pleasure of learning the history about gin and taste some of their locally produced gins by the expert hands of ...

The Gibraltar Association of Compliance Officers would like to have the pleasure of your company for a evening full of Gin on the 7th of December at the Garrison Library in Gibraltar. RSVP to reserve your space - click here. Limited to 60 attendees.

A model to quantify compliance, legal and contractual risks. Summary, The use of colors, 1-5 ranges, scores, and adjectives to assess risks not only induces wrong decision making but also is malpractice. Scientific research has proven that heat maps and qualitative assessments have mathematical flaws and biases preventing corporate defense and compliance with accountability principles. Learn how to use data-driven models based on Monte Carlo Simulations and decision trees to quantify the expo...

Ensuring your employees are adequately trained in anti-money laundering (AML), Counter Terrorism Finance (CTF) and Counter Proliferation Financing (CPF) is a crucial component of managing financial crime risk. Not only is it vital to protect your firm, but it's often required by regulations.  There is no doubt that money laundering continues to be a serious global problem. This massive amount of dirty money floating “beneath the surface” is the reason why the laws and regulations have become...

GACO wishes to gauge interest with his members to see how much interest and appetite there would be for a master class around the importance for any type of business in having a business plan, what it should contain and why it is important not least because of the regulatory requirements tied up to it. Even the smallest business can benefit from writing up a business plan. In short, a business plan allows you to communicate your vision to others and persuade them to help you meet your goals....

Gibraltar is in a "pretty good place" towards getting off the Financial Action Task Force's grey list, according to the former Executive Secretary of the FATF, David Lewis. He's one of four speakers who took part in "Risk on the Rock", a biannual event organised by the Gibraltar Association of Compliance Officers, held at the Sunborn Hotel. The event looked at how to manage the risk of financial crime: tackling issues including money laundering, cyber-attacks, and risk management in busin...

GACO is delighted to announce that Grahame Jackson of Hassans, Gibraltar’s resident CRS expert has given an open invitation to GACO members to a talk he will be giving a talk on the upcoming changes to the Common Reporting Standard (the Crypto Reporting Framework) which will extend CRS reporting on holdings and financial accounts to Crypto Asset Service Providers which have previously been outside the remit of such reporting. Bookings - Click hereGrahame was instrumental in training the Gibr...

GACO is delighted to invite you to this keynote Conference focussing on managing financial crime. We live in increasingly uncertain times and to succeed your business needs to manage a wide range of threats (from cybercrime and ransomware to insider threats and hostile reconnaissance) whilst keeping up to date with laws and regulations.Date: Thursday 22 Sept 2022 Time: from 11.30 am Venue: Sunborn Yacht HotelPrice: GACO Members £95 for the 1st attendee and £80 for all subsequent attendeesPric...

In accordance with clauses 8.3, 9.5 and 16.1 of the Constitution, notice is hereby given that the Annual General Meeting will be held at 09.30hours on Wednesday 22nd June 2022 online via GoToMeeting Application. Click here to book AGENDA 1. Approval of the minutes of the 2021 Annual General Meeting held on 16th June 20212. Chairperson’s Report3. Treasurer’s Report4. Training Committee Report5. Ratification of Executive Committee Actions6. Election of Executive Committee for calendar year 2...

With social media websites and cyber related intelligence which has given rise to an unprecedented volume of intelligence at one's fingertips, the internet is an ocean of data which can significantly assist to crack money laundering and terror financing investigations. Over the last decade, there has been an increase in the drive to adopt intelligence-led approaches and solutions in order to deal with cyber threats based on the understanding that individuals and illicit networks intent on co...