Following Treasury’s initial consultation on how to implement MLD4 in September 2016, it has now published the feedback to that consultation and the draft Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the MLR 2017). Time is now running short, and the legislation must be in force by 26 […]

The Guernsey Financial Services Commission (“Commission”) invites comments on this consultation paper. The Commission seeks feedback on a number of proposals to amend the Bailiwick’s Handbooks for financial services businesses and prescribed businesses on countering financial crime and terrorist financing. The Commission recognises that technology is changing traditional methods of undertaking due diligence. Demand from […]

The tightening of international banking standards is making it difficult for low-income people in the global south to get access to banking service When people in developing countries don’t have access to a bank account, physical proximity to a bank is usually the first challenge that springs to mind, but sometimes the reason a person […]

Jersey’s Financial Services Commission has released the results of an industry consultation on proposed revisions to the Money Laundering (Jersey) Order 2008. The amendments have been proposed to align the Jersey Order with certain revised recommendations from the Financial Action Task Force on Money Laundering (FATF), and to clarify the application in certain circumstances of […]