Following a short consultation with industry the Commission has today issued revised Annexes to the Financial Services Business (“FSB”) and Prescribed Business (“PB”) Handbooks on the use of technology in the customer due diligence process. The updates have removed the guidance on the use of online utility bills and clarified further the interplay between the […]

Introduction The reform of Jersey’s anti-money laundering (AML) practices and laws has been high on the legislative agenda, particularly after Jersey became a member of the Committee of Experts on the Evaluation of Anti-money Laundering Measures and the Financing of Terrorism (Moneyval) in 2012. Moneyval is the EU body tasked with ensuring that member states […]

The following notes provide an update/review of 2014 amendments to substantive offences under Proceeds of Crime Law and AML handbook Background In December 2013 MoneyVal issued a report which picks up from the 2008 International Monetary Fund (IMF) report and sets out the progress that Jersey has made following the IMF’s recommendations. MoneyVal is the […]

The JFSC have issued an update to Part 4: Section 1 Handbook for regulated financial services businesses [Effective from: 26 February 2015] in regards to the Proceeds of Crime (Jersey) Law 1999 – Schedule 2 (Article 36(1) and (2)) – Financial Services Business http://bit.ly/1DgEPKx

The revised AML/CFT Handbook for the Accountancy Sector is being finalised and will be available from the Commission Website from 19 January 2015. It will be effective from that date. It can be found here: http://bit.ly/1BdKAKA

Following the 2014 series of consultation papers on amendments to the AML/CFT Handbooks for the Prevention and Detection of Money Laundering and the Financing of terrorism, and the feedback paper published by the Commission in December 2014, the Commission wishes to advise that: The revised AML/CFT Handbook for regulated financial services business is effective from 1 […]

The revised AML/CFT for the Legal Sector is effective from 12 January 2015 and is available from the Commission Website by clicking here.

The new JFSC version of the Handbook for the prevention and detection of money laundering and the financing of terrorism is effective from 1 January 2015. CLICK HERE – http://bit.ly/1Da5QEd The new sections are made up as follows General sections Section 1 – Introduction Section 2 – Corporate governance Section 3 – Identification measures – […]