Back in 2015 MORE than 20 major fraud cases involving millions of pounds being allegedly laundered through Jersey banks by people from all over the world are being actively investigated by financial crime detectives, the States police have revealed. The operations department of the Joint Financial Crimes Unit are working on 23 ‘major’ investigations, some […]

DATA Protection Week 2019 got under way with a stark warning that every organisation will at some point suffer a data breach. The Jersey Opera House was the venue for the opening conference, which was organised by the Jersey Data Protection Association, the Office of the Information Commissioner and the States of Jersey and sponsored […]

The JFSC and the Jersey government have issued a joint Dear CEO statement on Brexit [8 February 2019]. You can read it here  also you can find a version below. This letter highlights the following matters:- Information and resources Jersey’s financial services Data flows EU Nationals Other Government departments Expectations of firms Introduction No Deal […]

A DISGRACED financial adviser has been jailed for seven years for charges related to selling fraudulent investments. Christopher Paul Byrne was initially due to be sentenced earlier this month but the hearing was abruptly adjourned when the 50-year-old’s advocate, Olaf Blakeley, said his client was helping Guernsey authorities with their investigations into a company that […]

After stepping down from the JFSC for hedalth and burn out related reasons, John Harris returns to the Jersey regulatory world. It was announced on the 12 October 2018 that the Chief Minister, Senator John Le Fondré, has signed a Ministerial Decision to appoint four Non-Executive Directors to the board governing the Office of the […]

The EU has put pressure on offshore centres such as Jersey, Guernsey and the Isle of Man to make sure that companies which are tax resident there have genuine local substance. Recently issued guidelines extend the scope of the EU’s Code of Conduct for Business Taxation with respect to companies located in zero tax territories. […]

A MIDDLE-EASTERN bank has been fined £25,000 and ordered to pay £2,805 in compensation after transferring $401,103 from a deceased man’s Jersey account without the correct authorisation. Abu Dhabi Commercial Bank PJSC appeared in the Royal Court on Friday after pleading guilty to the offence of ‘intermeddling’. Crown Advocate Julian Gollop, prosecuting, explained how on […]

Introduction 1. Jersey, Guernsey and the Isle of Man have been working together to address the concerns of the EU Code of Conduct Group (Business Taxation) (“the COCG”) regarding economic substance. 2. As part of a review of over 90 jurisdictions, the EU Code Group concluded that a. Jersey and the other Crown Dependencies were […]