Project Nexus is a GFIU initiative to conduct outreach and engagement with reporting entities that are required by law to submit Suspicious Activity Reports (SARs).
GFIU has sought the support from key partners and other stakeholders to ensure that the role of financial intelligence and the contribution it makes is clearly understood in protecting Gibraltar’s finance centre from Money Laundering, Terrorist Financing and Proliferation Financing risks.
The concept is designed to enhance awareness, improve working practices, increase communication fluidity and create a forum to keep abreast with current legislation, the dynamic financial obligations and the evolving methods used by criminals and terrorists to launder funds.
Outreach may be delivered through informal meetings with reporting officers or through formal seminars, in collaboration with the Gibraltar Association of Compliance Officers (GACO). Notice of these meetings are provided in advance in order for the necessary arrangements to be made.
Project Nexus is based on a three phase approach.
Phase One: Enhance the existing relationship between the GFIU and its partners with the private sector supported by the Gibraltar Association of Compliance Officers (GACO).
Phase Two: Delivery of relevant and up to date information to reporting entities through a variety of presentations and seminars. These may be delivered through GACO meetings or to individual reporting officers through a forecast of events.
Phase Three: Implementation of an e-Learning system using technology to outreach to both the private and the public sector. The development of e-Nexus, which has been designed by the GFIU in collaboration with its partners, has been a significant step in the future and resilience of our outreach program.