The Guernsey authorities, including the Commission, are committed to global efforts to counter terrorist financing. The information on this page has been collated to provide firms with links to current guidance and research on countering-terrorist financing measures to assist in the development of appropriate and effective policies, procedures and controls. In this regard the Commission would expect firms to ensure that staff receive suitable and sufficient training on the terrorist financing risks to the firm's business and the associated counter-measures employed by the firm.
Consideration of firms' terrorist financing risk forms part of the Commission's supervisory engagement with firms, which is undertaken through on-site visits, thematic reviews and meetings with representatives in management, risk and compliance functions. These risks are also assessed by the Commission as part of its analysis of applications for licensing and registering of potential new entities.
Additional information relevant to terrorist financing issues can also be found on our pages regarding UN, EU and Other Sanctions and Typologies. Further sources of information are periodically disseminated to firms directly by the FIU and the States of Guernsey Policy and Resources Committee.
In addition the UK's HM Treasury has circulated a guidance document on terrorist financing. Whilst this is neither applicable in the Bailiwick nor binding on its authorities, it is relevant on the basis that Guernsey’s countering-terrorist financing legislation mirrors that of the UK’s in most areas. In addition, it is important to be aware that much of the UK’s counter-terrorism legislation has extra–territorial effect and applies to the actions of British nationals wherever they are in the world.
Numerous publications concerning the countering of terrorist financing can also be found within the Financial Action Task Force website.
Many related articles are available to review by conducting simple open source internet searches. Please note the Commission cannot be held responsible for the content of external websites.
The Commission will try, where possible, to assist firms and individuals with queries related to terrorist-financing and the associated policies, procedures and controls. Please address any queries by e-mail to [email protected] having first checked to ensure that your question is not answered by the guidance provided within the Commission’s website.