Gibraltar’s government has opted to defer reporting its progress to get the jurisdiction off the Financial Action Task Force’s (FATF) anti-money laundering “grey list”, while the body continued to push the territory to implement larger fines for AML breaches.

The British overseas territory was added to the list following the June FATF plenary, the same meeting in which Malta was removed from the list. At the time, the body noted that the gambling sector was a major reason for Gibraltar’s presence on the list and said that authorities were not “applying sufficient fines for anti-money laundering failings”.

Despite this, Gibraltar gambling commissioner Andrew Lyman said the jurisdiction would not issue more sanctions simply because of the FATF grey listing.