Updates to the AML/CFT/CPF Handbook

The Commission has today issued an updated Handbook on Countering Financial Crime (AML/CFT/CPF) following a consultation on rules and guidance to support the extension of the existing obligations upon specified businesses to countering proliferation financing. The updated Handbook supports the changes which the States of Guernsey Policy and Resources Committee has made by regulation to Schedule 3 to the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law 1999.

The consultation also included amendments following the recent publication of the second national risk assessment on the money laundering, terrorist financing and proliferation financing risks to the Bailiwick, changes to the rules on pooled bank accounts for local businesses and changes to Chapter 12 of the Handbook on UN, UK and Bailiwick sanctions, as well as other minor changes.

We are also issuing feedback on the consultations which can be found on the Commission’s Consultation Hub.

Two sources used in the compilation of Appendix I of the Handbook have updated their assessments and, whilst there were no changes to the countries and territories identified in Appendix I, an updated Appendix I has also been published.

The clean and tracked version of the Handbook can be accessed via the Handbook page.

Appendix I is available via the Notices, Instructions & Warnings page.

The FATF page on High-Risk and Other Monitored Jurisdictions can be found here.