Disclosures To Supervisory Authorities
The Proceeds of Crime Act 2015 (‘the Act’), requires that supervisory authorities such as the LSRA introduce effective and reliable procedures to encourage the reporting of potential or actual breaches of the Act by legal professionals conducting Relevant Financial Business*.
The LSRA was appointed as a supervisory authority by Legal Notice No.52 of 2023, the Proceeds of Crime (Supervisory Authority)(Amendment) Order 2023, on 2nd March 2023.
The Act also requires that we ensure that individuals making such reports are not exposed to threats, retaliatory or hostile action by other employees, management body members or customers of the relevant financial business and are also protected from adverse or discriminatory employment actions.
We must also ensure that any such individual who, has been threatened, faced retaliatory or hostile action by other employees, management or customers of the relevant financial business (or claims to have been), is allowed to present a complaint in a safe manner.
At the same time, we must also provide appropriate protection for the person accused of such breaches of the Act.
The personal data of the person making such reports and the person accused of breaching the Act are protected under the Data Protection Act 2004.
The LSRA will maintain confidentiality in relation to the person who reports the breaches, unless disclosure is required by Gibraltar law to assist further investigations or judicial proceedings.
Reports can be made securely via email to firstname.lastname@example.org, (+350) 222 50490 or by arranging a visit to our offices at Suite 841, Europort, Europort Road, Gibraltar.
*Relevant Financial Business
These are certain activities conducted by notaries and other legal professionals, defined under section 9 (1) (k) of POCA.
3 March 2023