The Guernsey Financial Services Commission [GFSC] Handbook on Countering Financial Crime and Terrorist Financing (12th March 2019 update) The GFSC has today issued, in final form, the revised Handbook on Countering Financial Crime and Terrorist Financing. This follows the approval of the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) (Amendment) Ordinance, 2018 by the […]

The JFSC have now published the MoneyVal report on its website. View the report below MONEYVAL_Council_of_Europe_Executive_Summary_2015_Jersey View the JFSC evaluation below http://bit.ly/1RpFwHX

Money laundering fines increase agreed by Guernsey States – Guernsey was rated as partially compliant in the area of sanctions by MoneyVal The maximum penalty for money laundering and terrorism financing in Guernsey has risen to £4m. The fines can be levied for failing to carry out necessary checks or reviews or failing to make […]

Strasbourg, 15.01.2016 – Council of Europe experts on money laundering and the financing of terrorism have urged the United Kingdom’s Crown Dependency of Guernsey to increase the penalties which can be applied to financial institutions in this area. Further progress is needed in the number of investigations, prosecutions and convictions concerning money laundering and the […]

MONEYVAL – the wait is over for Guernsey!!! The report on the 4th assessment visit of Guernsey by MoneyVal was published on Friday 15th January. Full 322 page Report here – http://bit.ly/1QhsPDl executive summary here – http://bit.ly/1OuGSkj Guernsey was found to be compliant or largely compliant with all but one of the 40 FATF recommendations and the […]

The report on the 4th assessment visit of Guernsey by Moneyval was published today (executive summary here). Generally the report is excellent news for Guernsey (and justifiably so). Guernsey was found to be compliant or largely compliant with all but one of the 40 FATF recommendations and the nine special recommendations; the exception being in […]

Oct 19  2015 – After four years of campaigning, Gibraltar will now be subject to Moneyval’s anti-money laundering processes and procedures. MoneyVal was established in September 1997 by the Committee of Ministers of the Council of Europe to conduct self and mutual assessment exercises of the anti-money laundering measures in place in Council of Europe […]

AN INDEPENDENT external assessment of Guernsey’s systems for preventing financial crime is set to be discussed in Strasbourg today at the plenary meeting of MoneyVal. MoneyVal is a body of the Council of Europe tasked with assessing the effectiveness of measures in place to prevent money laundering and the financing of terrorism. Guernsey is one […]