Featured Gibraltar

Iran Sold Oil Wanted by U.S. But Doesn’t Know Where It Is Going

Iran said it sold an oil cargo on board a contested tanker sailing the Mediterranean Sea but didn’t know where the vessel was going amid U.S. efforts to block delivery of the crude. The Adrian Darya 1, the tanker that the U.S. sought to seize in Gibraltar last week, was… Read More

Court documents show U.S. seeks seizure of Iranian tanker violating sanctions

Newly released U.S. court documents show the United States issued a warrant for the seizure of an Iranian tanker that British Royal Marines had seized last month in Gibraltar, citing evidence that it was transporting oil to Syria in violation of U.S. sanctions. The oil tanker Grace 1, the more… Read More

U.S. Threatens Sanctions Over Iranian Tanker After Court Release

The U.S. is gravely disappointed with the U.K. after a Gibraltar court allowed the release of an Iranian tanker suspected of hauling oil to Syria, and threatened sanctions against ports, banks and anyone else who does business with the ship or its crew, two administration officials said. The court’s decision… Read More
14th August 2019
The British territory of Gibraltar will not yet release an Iranian oil tanker seized by Royal Marines in the Mediterranean despite an Iranian report that it could do so on Tuesday, an official Gibraltar source said. The commandeering of the Grace 1 on July 4 exacerbated frictions between Tehran and… Read More
30th July 2019
When Belarusian President Alexander Lukashenko met entrepreneur Viktor Prokopenya in March 2017, their discussion was scheduled to last for an hour but went on for three times that long. The meeting, Prokopenya said, ended with Lukashenko asking him to propose regulations to boost the country’s tech sector. Prokopenya worked with… Read More
5th July 2019
British Royal Marines seized a giant Iranian oil tanker in Gibraltar on Thursday for trying to take oil to Syria in violation of EU sanctions, a dramatic step that drew Tehran’s fury and could escalate its confrontation with the West. The Grace 1 tanker was impounded in the British territory… Read More
14th June 2019
Two online gaming companies will pay a combined £2.8 million for anti-money laundering (AML) compliance lapses related to client bets made with ill-gotten gains, the UK Gambling Commission said. The fines against Osaka-based Platinum Gaming Ltd and London-based Gamesys Ltd follow a combined £4.5 million in monetary outlays ordered… Read More
6th March 2019
AP—Spain and Britain have reached an agreement that sets out stricter rules for companies and citizens operating from Gibraltar, a British overseas territory which Spain considers a colony. As part of the deal, Gibraltar-based companies will be required to pay taxes in Spain if they conduct most of their… Read More
3rd January 2019
On the day the United Kingdom leaves the European Union, it will be looking to preserve its current regulatory position on Gibraltar within the Financial Conduct Authority’s (FCA) handbook, the watchdog said. The announcement is in line with the UK’s position that Gibraltar financial services firms should, until December 2020,… Read More
17th December 2018
E-money firm WaveCrest has been fined $250,000 by Gibraltar’s Financial Services Commission (GFSC) over anti-money laundering (AML) and counter terror finance (CFT) failings. As part of a settlement deal reached over the breaches, WaveCrest will not take on any new business until further notice by the GFSC. “In… Read More
22nd June 2018
A gambling firm which failed to conduct important anti-money laundering checks on a customer whose deposits eventually reached £750,000 has been fined £2 million by the Gambling Commission. The watchdog said 32Red should have reviewed the customer’s account for source of wealth and other checks in 2016, but ‘because of… Read More
13th February 2018
Gibraltar has started working on what it says are the world’s first rules for initial coin offerings, following feedback on a consultation on digital assets. A bill is expected to be considered by Parliament in the second quarter of this year. The British overseas territory has already introduced a… Read More
18th May 2017
The Gibraltar Financial Services Commission (GFSC) is targeting financial crime in a new initiative. A new Financial Crime team has been established by Annette Perales as part of its partnership with European anti-money-laundering programme Moneyval. The team, headed by Annette Perales, has been sent up ahead of an evaluation by… Read More