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 industry for alternative cost effective and customer friendly options is resulting in the development and implementation of a variety of alternative technical options that capture and deliver due diligence components through the internet, tablets or smartphone applications. The consultation paper describes the Commission’s regulatory safeguard proposals for the use of technology for CDD purposes.

Comments should reach the Commission by 31 July 2015.

Responses should either be emailed to the Financial Crime Supervision & Policy Division, AMLCFT@gfsc.gg or be mailed and marked for the Division’s attention to:

Guernsey Financial Services Commission

P.O. Box 128

Glategny Court

Glategny Esplanade

St. Peter Port

Guernsey

GY1 3HQ

Please click here for the Consultation Paper. http://bit.ly/1dGzZRR